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 clients.
Beneath the brand new partnership, Chubb will underwrite a worldwide insurance coverage coverage for EWC purchasers, overlaying loss, theft, harm and mysterious disappearance with out a deductible.
Protection relies on the present market worth of every watch, with annual changes reflecting market traits, 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: “Daily, we hear horror tales of total collections being stolen, and we needed to supply 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 gathering neighborhood, we’re providing a degree of insurance coverage safety that actually matches the significance of those items.”
Chubb’s coverage supplies full safety for the agreed insured quantity and permits for declare funds of as much as 150% of the coverage restrict in some circumstances.
Chubb Private Danger Companies digital client head Amy McNeece acknowledged: “We’re happy to collaborate with European Watch Firm to supply their purchasers with insurance coverage protection designed to assist shield and safeguard their cherished collections from the sudden.”
In Could, Chubb and Zurich North America, in collaboration with Nationwide Indemnity Firm, established a brand new extra casualty insurance coverage facility for giant companies.
