Luxury is a truly global growth industry. Precious raw materials and luxury inventory circulate constantly around the globe, either in transit, on consignment or at specific locations for sale or distribution.
The luxury universe is large and diverse, with some items requiring bespoke security concepts and specialist carriers while others rely on online distribution and regular carriers, and distributors.
Individual items can range from unique and bespoke pieces to more volume items such as fashion and accessories and many of our clients will have a blend of both.
We work in conjunction with our luxury clients to understand the nuances of their risk profile and specific features of their business model and physical operation.
Our teams bring an integrated approach, with measured evaluation of risk and technical programme design. This enables us to develop a tailored solution to cover the exposures, from where the luxury item is manufactured to its intended destination.
How we do it
- We review and understand risk exposures to your luxury brands business and the potential impact of large loss scenarios across the supply chain.
- We understand the complex contractual relationships between those operating in this sector.
- Our robust analytics allow us to measure the exposure, model the total cost of risk, and challenge market pricing.
- We ensure that indemnity under the policy reflects the appropriate value of inventory at each stage of the value chain.
- Our bespoke policies protect profit margins and interface seamlessly with property damage and business interruption policies to reduce exposure.
- We offer a tailored stock throughput policy with a single set of policy terms to create coverage continuity for inventory whether in transit or at rest.
Our driving philosophy is that any cargo or jewellery block policy must support and not impede your business operations.
Working collaboratively with a preferred panel of partner insurers, we will negotiate a risk programme which delivers maximum flexibility to carry out your business by agreeing the widest policy cover and operational flexibility in advance.
Our dedicated Global Support Services team is on hand to advise on territorial compliance and best practice.