UPS Capital’s Parcel Pro Launches Jewelers Block Coverage
07 Novembre 2017 - 3:00PM
- Broadens and customizes protection for jewelers’ unique
needs
- Offers separate coverage for parcel shipments
- Reduces unnecessary coverages and wasted premiums
Parcel Pro, a UPS Capital Company, today announced the launch of
jewelers block coverage, a special insurance program to help
protect the property of jewelers against the most common types of
losses. The comprehensive and customizable insurance policy
provides coverage for the jewelers’ merchandise on premise, as well
as for trade shows, travel, private dwelling, goods on loan and
more. It also offers businesses an option to carve out
coverage for small package shipments from the conventional block
policy so jewelers can tailor coverage to fit their
needs.
Protection for small parcel shipments typically included in most
jewelers block policies is not sufficient for businesses that
frequently ship high-value goods. One large monetary transportation
claim can result in loss of experience ratings, higher jewelers
block premiums or lost coverage. To protect themselves, companies
have added additional coverage or used multiple providers.
“This extensive new offering provides complementary layers of
protection not found in other options, so jewelers can get all
their needs through one provider,” said Mark Robinson, President of
UPS Capital. “As luxury ecommerce grows, more small packages
will be shipped and that will increase the risk to jewelry
businesses. Parcel Pro helps mitigate those risks by offering
insured transportation solutions coupled with a block policy that
enables broader protection without unnecessary coverages and wasted
premiums.”
Coverage
Underwritten by Jewelers unBLOCKed, an insurance managing
general underwriter specializing in the jewelry industry, Parcel
Pro’s jewelers block policy addresses the unique exposures faced by
retailers, manufacturers, wholesalers, refiners, designers and
appraisers. It focuses on loss prevention, risk mitigation, and
employee safety.
Policies provide maximum coverage for the industry, yet allow
customization based on risk tolerance. Clients can customize
their policies based on their unique needs and can insure all or a
portion of their goods. The offering provides worldwide
coverage, up to 125% valuation of the goods and transactional
coverage can be carved out of the policy for insured transportation
of small package shipments.
Coverage can include the following:
- Jewelers’ merchandise and goods of others
- Salesperson lines
- Shipping
- Trade shows
- Trunk shows
- Armored car
- Worldwide travel and event capabilities
- Appraisal liability
- Transactional coverage
“This exciting new product offers the jewelry industry an
integrated, seamless solution for their insurance and shipping
needs,” explained Pat Low, President of Jewelers unBLOCKed. “The
fusion provides the jeweler the best of both worlds, with the
ability to maximize coverage, and enhance efficiencies, through a
solution tailored to their specific risk tolerance.”
About UPS Capital
Nobody understands transportation and logistics like UPS. And
while you’ve probably never thought of a UPS company for financing
and insurance services, the global supply chain expertise of UPS
Capital uniquely positions us to help protect companies from risk
and leverage cash in their supply chains. Insurance companies and
banks can’t say that. UPS Capital and its affiliates have offices
throughout the United States, as well as operations in Asia, Europe
and Latin America. For more information, visit
www.upscapital.com.
About Parcel Pro
Parcel Pro, a leading logistics provider, offers insured
transportation services, business insurance solutions and payment
services for the jewelry, wristwatch and collectibles industries.
Parcel Pro has offices in Los Angeles, New York, Miami, Chicago,
San Francisco, Hong Kong, Bangkok, Tokyo and Singapore to support
the global needs of the luxury jewelry trade. For more
information, visit www.parcelpro.com.
© 2017 United Parcel Service of America, Inc. UPS, UPS
Capital, the UPS brandmark, and the color brown are trademarks of
United Parcel Service of America, Inc. All rights
reserved. UPS Capital insurance products are underwritten by
an authorized insurance company and issued through licensed
insurance producers affiliated with UPS Capital Insurance Agency,
Inc., and other affiliated insurance agencies. UPS Capital
Insurance Agency, Inc. is a wholly owned subsidiary of UPS Capital
Corporation. The insurance company, UPS Capital Insurance
Agency, Inc. and its licensed affiliates reserve the right to
change or cancel the program at any time. The insurance
program is governed by the terms, conditions, limitations and
exclusions set forth in the applicable insurance policy.
Insurance coverage is not available in all jurisdictions.
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Kristin DeBates
404-828-4032
kdebates@ups.com
United Parcel Service (NYSE:UPS)
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