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Marsh Advantage Insurance arranges insurance solutions, fit for the unique needs of the jewellery industry.

Providing tailored insurance solutions for the jewellery industry

For over 10 years, Marsh Advantage Insurance has been arranging specialist cover for jewellers Australia wide that suit their needs. From jewellers block insurance to jewellers’ transit cover and even cyber insurance cover, Marsh Advantage Insurance can tailor a solution from a range of options that can satisfy the specialist requirements of the industry. 

Alongside our industry partnerships, Marsh Advantage Insurance actively supports the Australian jewellery industry with involvement in major jewellery awards, attendance at jewellery fairs, provision of risk management and jewellery insurance solutions and sponsorship of industry development events, further equipping our specialist team with a deep understanding of the unique and complex challenges that your industry faces.

Minimum recommended jewellery insurance cover

Just as each piece of jewellery varies, so do the insurance policies that are relevant to each unique jeweller. However, at the absolute minimum, jewellers should have property insurance in place, providing essential cover for precious stock, resources or even customer valuables that you may be held for repair. Marsh Advantage Insurance can arrange property insurance to provide essential cover for both your prized possessions and those that belong to a third party, which have been damaged or lost through incidents such as break-ins, snatch and grabs or natural disasters.

Is your jewellery store located in a shopping centre?  If so, your landlord may also require for you to have jewellers’ public liability cover, including glass cover. Our specialist jewellery team at Marsh Advantage Insurance can help arrange cover to meet these requirements as well as providing cover should another person be injured or their property damaged on your premises.  If glass insurance cover is required, our brokers can also arrange this protection to cover the costs of replacing or repairing internal or external glass from accidental damage. 

Emerging risks and trends for jewellers to consider

While property insurance and public liability insurance help take care of the necessities, there is a range of other insurance solutions available to jewellers that you may not be aware and could provide much needed protection. Insurance solutions that you should consider include:

  • Management Liability Insurance: As an owner or manager of a small-medium jewellery store, you may be required to handle a variety of responsibilities and manage the expectations of numerous stakeholders. This exposes you to a variety of managerial risks, including workplace health and safety issues, employment-related allegations or crime-related losses. You could even be liable for the decisions you make if it is alleged that you breached your rights and responsibilities as a business owner or manager. Management Liability Insurance aims to provide managers with protection against these risks. Such policies can include Directors and Officers Liability Cover for allegations relating to management and their decisions, employment practices liability for employee or former employees, claims of underpayment, unfair dismissal, discrimination, bullying and harassment, as well as crime loss cover.
  • Jewellers' Transit Losses: Also simply known as transit cover, Jewellers' Transit Losses provides protection for your valuable stock, should it get damaged or lost in transit. We understand that damage or loss of goods can have a substantial impact on your business reputation and cash flow. 
  • Cyber: The risk of a cyber breach is very real for any business that has embraced the digital age. In fact, 55% of Australian small business owners continue to unknowingly expose themselves to cyber security risks1. For the jewellery industry specifically, our specialist jewellery team are even experiencing more frequent claims for cyber-related incidents, particularly jewellery cyber attacks associated with ransom and extortion. The impact of a cyber-attack such as this can be detrimental to jewellers and small business owners, with one-third of Australian businesses predicting that they wouldn’t last a week without critical information if it had suddenly become compromised2. Not to mention, research shows that 60% of small to medium (SME's) that experience a cyber breach go out of business within six months3. Marsh Advantage Insurance can arrange cyber insurance for jewellers, providing cover for cyber incident response, cybercrime, extortion, system damage, network security and privacy liability, media liability, technology errors and omissions and court attendance costs.
  • Professional Indemnity: Did you know the advice you provide in relation to your product or service could expose you to risks? Perhaps you have incorrectly valued a piece of jewellery or provided product advice to care for a valuable item which has resulted in some sort of loss or damage to the goods, potentially making you liable to the damages that have occurred.  Professional Indemnity insurance for jewellers also offers some cover for potential legal costs. 
  • Damage to goods being worked upon: Diamonds may be made under pressure but business owners don't need to be! During the normal course of repairing or restoring jewellery, unfortunate mistakes can happen. If damage or loss occurs you will have some protection under this policy.
  • Business Interruption: Did you know that 1 in 7 businesses experienced a shortfall in income because of business interruption risk in the past 12 months?Many of the risks outlined above can have a profound on your businesses ability to continue to operate, resulting in some form of business interruption and potentially impacting income. Many Australian companies are currently underinsured, particularly for business interruption risk5. Marsh Advantage Insurance can arrange business interruption cover for jewellers, helping protect the business income should the above incidents result in business interruption.

Get tailored insurance solutions with Marsh Advantage Insurance today!

Call our specialist jewellery insurance brokers now on 1300 137 485 or email jewellers@marshadvantage.com


1 Source:  NSW Small Business Commissioner, 2017 – Cyber Aware, p 3

2 Source:  Norton, 2017 – Norton SMB Cyber Security Survey Australia, p 3

3 Source: Australian Small Business and Family Enterprise Ombudsman, 2018 – Small business cyber security guide released

4 Source: CGU - Insuring for business interruptions

5 Source: SwisseRe Institute, 2018 - The Australian Commercial Insurance Market


Notices: When arranging the insurance products referred to on this website, these are underwritten by various insurers. When arranging such cover Marsh Advantage Insurance will advise you of the underwriter and capacity in which we act (for some of the insurance products the insurers have granted Marsh Advantage Insurance authority to issue, vary and cancel insurance on their behalf, and in such situations we do not act on your behalf, we will disclose such situations to you). The Jewellery and Gift Buying Service Pty Ltd receives a financial benefit from Marsh Advantage Insurance Pty Ltd when an insurance policy is arranged for its members. LCPA: 19/074

Marsh Advantage Insurance Pty Ltd (ABN 31 081 358 303, AFSL 238369) (“MAI”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226 827) which is a related entity of MAI. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh Advantage Insurance on request.