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Quarterly Newsletter - January 2015
Anglo Belge Special Risks
SUMMARY

PROCESSING RISK OF A GEMSTONE: ASK AN EXPERT
TIPS AND TRICKS TO SAFELY ATTEND A TRADE FAIR
MEET THE CREW

OUR SERVICES

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OROLOGIO 01-02.02.2015 AUTOWORLD BRUSSELS
ANTWERP DIAMOND TRADE FAIR 01-03.02.2015 ANTWERP
We'll be there, come and see us !
PROCESSING RISK OF A GEMSTONE: ASK AN EXPERT

Anglo Belge has just put the finishing touches for coverage of the manufacturing of one of the diamond industry’s largest stones in 2014.

What does this imply?
Processing risk can simply be defined as the risk incurred when processing a gemstone. In this case, the risk entailed laser cutting and polishing of a multi-million dollar, 122 carat rough diamond extracted from South Africa’s Cullinan mines. This process should enable the production of four magnificent fancy blue diamonds.

The various processes involved in transforming a rough diamond into cut diamonds that are used to create the most exquisite pieces of jewellery are not without risk. In general, these processing risks are excluded from the All Risk policies (Jewellers Block) that diamond dealers generally subscribe to.

Tension, inclusions and nitrogen levels are just a few of the numerous factors that increase risk. It could therefore prove useful to consider insurance when it comes to processing diamonds.

How to insure oneself against processing risk?
At Anglo Belge, we approach processing risk coverage from two different angles:

- the risk can be included in the annual Jewellers Block policy for diamond dealers who regularly process small to medium size stones and tend to process a regular amount of diamonds.

- for larger stones, a tailored insurance policy will be developed on a case-by-case basis. This process consists of three stages:

1) obtaining an insurance premium and conditions indication based on information provided by the owner of the rough diamond,

2) obtaining a risk assessment carried out by an independent expert to confirm the initial indication received from the insurance companies of Lloyd's of London,

3) obtaining regular progress reports during the actual processing phase.

Diamond manufacturers also often underestimate the impact that other factors can have on their Jewellers Block policy such as the risk of theft during transport or when on consignment at these factories... It is best to remain careful and maintain an overall view of the risk, which is exactly Anglo Belge’s mission; to advise its clients and offer them a global solution for these risks.

Would you like further information? Contact Anglo Belge on
+32 3 218 91 28; we remain at your disposal throughout the entire process… of processing risk insurance!

TIPS AND TRICKS TO SAFELY ATTEND A TRADE FAIR

With the Antwerp Diamond Trade Fair and Orologio Fair in Brussels about to open their doors, we have lined up a couple of pointers that will offer you some peace of mind at the start of your exhibition week. Many of these will simply appear to be common sense, yet we cannot stress their importance too often so as to ensure your policy has every possible risk covered.

- Check within your jeweller’s insurance policy that you have taken an extension of coverage for the transport AND the exhibition of your goods.

- This also is necessary even at the fair – whether you are exhibiting or even just carrying goods within exhibition locations you have to be covered for these transports.

- Make sure that your goods are either in a safe or in locked showcases, except of course when you are showing them.

- In addition to your staff who is handling and selling goods, always have an employee dedicated to security that has a global view on what is happening on your stand during exhibition hours.

- Ensure that a minimum of two persons are present on the stand at all times during exhibition hours.

- Always weigh stones before and after presentation to third parties.

- We recommend your stand be fitted with CCTV.

- Make sure that your keys are always removed from your showcases and safe.

- Avoid presenting goods “over the counter”, prefer showing goods on trade tables inside your stand.

- Always keep your trading tables neat and tidy (calculator, scale and that’s it…)

- During a presentation of goods, avoid showing more than two items, one suite of goods or one parcel of goods at the same time.

- Avoid carrying goods outside of the exhibition halls.

- If you rent a safe on your stand, make sure that it has a lock operated by key and combination and make sure that you change the combination of your safe when it is delivered on your stand.

- When acknowledging customers unknown to you, always ask for business cards, references and test their knowledge of pricings.

Having second thoughts? Contact us on +32 (0)3/ 218 91 28; we are happy to go through your policy again and to check the clauses before you leave.

MEET THE CREW
Anthony Guépin Meet Anthony Guépin, Senior Account Manager. Read on to discover his interests.

How long have you been working for Anglo Belge?
Since May 1999.

What has been your biggest challenge? Integrating a new CRM tool. In 2012, Anglo Belge decided to integrate a system that follows up on each client, which was pretty challenging in the beginning. The advantage

is that we are now able to offer our clients/insurers even better service in terms of follow-up on renewals, claims and extensions.

Where did you work before joining Anglo Belge?
At Citibank, for the customer service department.

What made you decide to work for Anglo Belge?
The diamond, jewellery and art industry have always appealed to me. Part of it has to do with the value of the objects involved, especially in terms of the history behind all these pieces you get to see and insure.

What do you dislike about your job?
The paperwork.

How would you describe Anglo Belge?
Anglo Belge is a special risks insurance broker, which manages its portfolio with the best interests of its clients in mind. The company continuously aims to propose tailored, innovative solutions while putting long-term relationships first.

Could you share one of your favourite memories from your years at Anglo Belge ?
When we won a regatta in the North Sea (Corporate Sailing Challenge 2014). There were about 20 participants in total and it was incredibly close, but we fought until the very end.

Describe your ideal client.
A client who is passionate about his job, who shares lots of anecdotes and trusts you.

Which destination have you had to travel to most often for work?
Hong Kong and Dubai.

What’s the best place for a drink?
The one and only Royal Mirage in Dubai, or the Sevva in Hong Kong.

Which restaurant would you recommend?
Cipriani in New York’s Grand Central Station. I love going for dinner there on my first night in town to really soak up the city’s energy.

Describe yourself in 3 words:
Professional, polyvalent and diplomatic.

Favourite band?
The Doors.

Favourite author?
I have a couple, but I’d say Marcel Pagnol’s descriptions have always managed to move me.

Favourite dish?
Veal escalope in a cream sauce with a side of Robuchon purée.

Hobbies?
Skiing and music.

 
Frans Van Hombeeckplein, 14 B-2600 Antwerp + 32 3 218 91 28 Contact Us Linkedin - Join Us
 

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