All-risks integrated cover for the theft, robbery, breakage and loss risk of jewellers, watch, precious-metal and luxury brands across stock, exhibition and transit. The global-standard Jewellers Block wording covers the whole chain — shop, safe, external transit.
N2N Insurance Brokerage does not represent any single insurer — it independently represents the client as an FSS-registered broker (Reg. No. 2026-012201). In Korea, Jeweller's Block is underwritten by Chubb alone; we negotiate terms with Chubb on your behalf. Each insurer's full wording is provided at application and binding.
All-risks integrated cover for the theft, robbery, breakage and loss risk of jewellers, watch, precious-metal and luxury brands across stock, exhibition and transit. The global-standard Jewellers Block wording covers the whole chain — shop, safe, external transit.
Any accidental loss outside the wording exclusions.
Limits designed by location — shop / safe / out / transit / exhibition.
Jewellery carried by staff/customers out of premises covered to a set limit.
Depreciation compensation on loss to one of a pair/set.
Department-store concessions + standalone shops.
Jewellery wholesale, overseas import, auction dealers.
High-value watch, handbag, accessory brand shops.
Temporary exhibition and fair booths.
| Jewellery shop (stock 5bn) | Limits: shop 3bn / safe 5bn / out 500m / transit 1bn · key: out/fair extension · Pair & Set |
|---|---|
| Watch wholesaler | Limits: stock 10bn / transit 2bn · key: import transit · exhibition extension |
| Jewellery fair booth | Limits: short-term 500m for the fair period · key: short-term fair endorsement |
Figures above are sum-insured (cover-limit) design examples, not premiums. (General industry example)
| Policy period | 1 year renewable / short-term for a fair |
|---|---|
| Payment | Lump sum |
| Insurers | Chubb (Fine Goods) · multiple global |
| Turnaround | 7–14 business days after stock/security assessment |
| Channel | Individual consultation with our broker (010-5755-6465) |
If the insured event has already occurred at the time the contract is made, the contract is void. However, where the contract is void due to the company's intent or negligence, or where the company knew or could have known of the nullity before acceptance yet did not refund the premium, the company refunds the premium with interest at the policy-loan rate published by the Korea Insurance Development Institute, compounded annually, for the period from the day after payment to the day of refund.
The specific losses not covered (exclusions) are set out in each insurer's policy wording and product description; on this page, see the “Cover” tab(or the “Losses not covered” section) for the main exclusions. For other cover-specific grounds on which claims are not paid, please refer to the policy wording.
The company provides cover, in accordance with the policy, from the time it accepts the application and receives the first premium. Where the company accepts the application after receiving the first premium with it, cover also begins from the time the first premium was received.
The application must be completed by the policyholder, and the policyholder and the insured must sign it by hand. Failure to sign by hand may result in disadvantages regarding the validity of the contract. On an internet cyber-mall, an electronic signature may be used instead.
The policyholder has the right to be given and have explained the information needed about the product they wish to buy.
The insurer and N2N Insurance Brokerage must explain the important matters of the product to ordinary financial consumers.
When applying, the policyholder, the insured or their agent must disclose truthfully the facts they know regarding the questions in the application (including the questionnaire). Otherwise the claim may be declined or the contract cancelled. Where insurance is taken out by telephone or other means of communication, the duty is performed by answering the seller's questions, which are recorded, without a separate written questionnaire, so answers must be given with particular care.
If, after the contract is made, any of the following arises in respect of the subject-matter insured, the policyholder or the insured must notify the company in writing without delay and obtain endorsement on the policy.
The surrender value is the amount paid if the contract is cancelled early. Unlike bank savings, insurance combines risk protection and savings: part of the premium is paid out as claims to other policyholders who suffer accidents, and part covers the insurer's operating expenses, so the surrender value on early cancellation may be less than the premiums paid, or nil.
Under Article 59-4(1) of the Income Tax Act (special tax credit), for protection-type insurance taken out by an employee only, a tax credit of 12% of the premium paid (capped at KRW 1 million per year) is available. Tax matters may change with amendment or repeal of the relevant tax law.
Except as provided by law, the insurer and N2N Insurance Brokerage do not collect, use, inspect or provide personal data related to this contract — for its conclusion, maintenance and claim payment — without the consent of the policyholder, the insured or the beneficiary. However, for those purposes the insurer may, with the consent of the policyholder and the insured and in accordance with law, provide personal data to other insurers and insurance-related bodies.
The above is a summary and excerpt of the policy wording; for grounds on which claims are not paid and other details, please refer to the policy wording and product description.
Five areas handling high-value assets
Jewellery shops and jewellery arcades. A core area of high single-asset value.
Luxury watch shops and distribution. A theft/transit-risk area.
Art shops and auction houses. An exhibition/transit combination area.
Specialist high-value-asset transport. A transit-specialised area.
Jewellery/art exhibitions. An exhibition-accident cover area.
A jewellery shop suffered a transit accident damaging some assets while carrying high-value jewellery to an overseas exhibition. Cover was reviewed under the wording's "transit endorsement" area, with the transport mode (professional secure transport), the transit procedure (compliance with the security conditions stated in the wording) and the pre-accident valuation report as key evidence. A dispute arose where some assets were valued at recent market price rather than the pre-assessment report, resolved by applying the wording's stated valuation method first. Meanwhile, some assets in the shop at the same time met the out-of-hours safe-storage duty and were within normal cover. A case showing that high-value-asset insurance is a precise combination of security procedure, valuation and transit cover.
Source: (General industry example)
The wording and structure points decision-makers most often overlook
The limit for in storage (shop, safe) and in transit (between premises, overseas dispatch) is usually separated. In transit needs a separate endorsement, differs by transport mode (own, professional, air), and detail such as checked-air-baggage exclusion differs by wording.
The priority of valuation methods — professional appraisal, purchase price, market price, government assessment — differs by wording. An accurate per-asset report at enrolment is essential; a lack of report is a ground for post-accident limit dispute. Assets with large value change over time should be re-assessed periodically.
A precision safe, CCTV, alarm and out-of-hours storage procedure are stated as enrolment conditions, stricter than ordinary theft insurance. A security-facility failure or poor management is a ground for exclusion, so regular-inspection records and facility certificates are key post-accident evidence.
The questions decision-makers ask most when considering jewellers block & fine goods insurance
It is a specialised wording covering the asset loss of businesses handling high-value assets — jewellers, galleries, museums — for jewellery, watches and art. It covers, on a precise-valuation basis, the high-value assets for which an ordinary theft or property-comprehensive policy has insufficient limit and scope.
Usually (1) theft and robbery (premises intrusion, in transit), (2) asset loss from fire and natural disaster, (3) loss in transit, domestic or overseas, (4) accidents during exhibition (gallery, museum, fair), (5) in some wordings, employee dishonesty (combined with crime), and (6) accidental loss (breakage, dropping).
Jewellery/watch shops (retail, wholesale), galleries and art dealers, museums and archives, jewellery/art transporters, jewellery cutting/repair, exhibition/fair organisers and auction houses — businesses handling high-value assets are the core area.
The limit and exclusions differ between in storage (shop, warehouse, safe) and in transit (between premises, overseas dispatch, customer visit). In transit often needs a separate transit endorsement, with cover varying by mode (own, professional carrier, air); some wordings exclude checked air baggage.
Jewellery/art value is set on (1) a professional appraisal, (2) purchase/sale records, (3) recent market price and (4) for some assets, a government-published assessment. Accurate valuation at enrolment is key, and a lack of valuation becomes a ground for a post-accident limit dispute.
The wording usually specifies as enrolment conditions (1) a precision safe and locking system, (2) CCTV and alarm, (3) an out-of-hours asset-storage procedure and (4) employee identity checks. A security-facility failure or poor management is a ground for exclusion, so regular inspection and record-keeping are essential.
The insurer assesses it on the value of assets handled, the site location (crime-rate grade), the security-facility level, transit/exhibition frequency, overseas territory, past incident history and the deductible design. The exact premium and acceptance are confirmed after Chubb's underwriting.
