The European Watch Firm (EWC), a specialist in luxurious pre-owned timepieces, has joined forces with Chubb to supply insurance coverage protection for its clientele and their watch collections.
The partnership will leverage Chubb’s digital insurance coverage platform, Chubb Studio, to streamline the insurance coverage course of for EWC prospects.
Below the brand new partnership, Chubb will underwrite a worldwide insurance coverage coverage for EWC purchasers, protecting loss, theft, injury and mysterious disappearance and not using a deductible.
Protection relies on the present market worth of every watch, with annual changes reflecting market developments, the corporate stated.
For watches valued under $100,000, no appraisal is required for insurance coverage protection and options declare settlement choices together with restore, alternative or money compensation.
EWC CEO Joshua Ganjei stated: “Every single day, we hear horror tales of total collections being stolen, and we needed to offer our purchasers with an ironclad approach to shield their investments.
“Luxurious watches are extra than simply timepieces; they characterize historical past, craftsmanship and an funding asset. With Chubb’s experience and our dedication to the watch accumulating neighborhood, we’re providing a degree of insurance coverage safety that really matches the significance of those items.”
Chubb’s coverage gives full safety for the agreed insured quantity and permits for declare funds of as much as 150% of the coverage restrict in some instances.
Chubb Private Danger Providers digital shopper head Amy McNeece said: “We’re happy to collaborate with European Watch Firm to offer their purchasers with insurance coverage protection designed to assist shield and safeguard their cherished collections from the surprising.”
In Could, Chubb and Zurich North America, in collaboration with Nationwide Indemnity Firm, established a brand new extra casualty insurance coverage facility for big companies.
