JEM Settlement Options:

Once your jewelry item has been evaluated and given a replacement estimate, multiple settlement options are available. Settlement costs are based on the Like Kind and Quality item’s replacement cost according to the adjustment actions deemed suitable by the adjuster and within the limits of the policy. The insurance carrier may settle the claim issuing a check to the insured, by issuing a co-draft to the insured and the Insurer’s World affiliate jeweler or on a direct bill to file when using IW direct fulfillment. Applicable sales tax needs to be applied by the adjuster according to local practice.

IW National Network of Jewelers: Our expansive jewelry network consists of over 900 jewelers throughout the United States, which allows insureds to receive local fulfillment. A jeweler within close proximity of the insured will be chosen to fulfill the jewelry replacement. Insurers World will provide the insured with the jeweler’s contact information so they may call the jeweler for an appointment. The jeweler will receive the necessary paperwork from Insurers World to ensure a proper like kind and quality replacement, as well as the insured’s contact information. Each jeweler in our National Network is under agreement that fulfillment is at the negotiated price as stipulated through Insurer’s World’s carrier agreement.

The jeweler network is the backbone of the program providing value added service. These affiliates have been selected because of their quality and reputation. Each member of the IW National Network is under agreement that replacement of Link Kind and Quality will be offered at the agreed upon mark up.

To qualify for entrance into our jeweler network, the jeweler must meet the following requirements:

• Financial Strength – In accordance with Dunn and Bradstreet
• Red Book Listed – Published by the Jewelers Board of Trade (JBT)
• GIA Certified Gemologists on staff
• Business Longevity
• GIA Standards followed
• Sufficiently Insured
• Responsible for all guarantees and services
• Provide GIA standards appraisals on replacement Items
• Maintain adequate inventories

IW Direct: This is a phone based fulfillment system. Either the insured or the adjuster may call Insurers World to get a replacement item directly from us.

If neither of these options are suitable for fulfillment and you wish to use a jeweler who is not part of our National Network for replacement, Insurers World will contact your chosen jeweler, and attempt to negotiate a price for replacement. If for some reason the insured is not happy with their replacement, Insurers World will work with the insurance carrier to discuss the problem and resolve the issue. Insurers World will also work with the jeweler handling the replacement in attempt to keep the insured happy.

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