New Paradigm for Jewelry Clms

There are currently two paradigms in the personal property insurance industry for jewelry claims. The traditional paradigm is still used by most insurers and employs claim representatives who have no training in gemology or jewelry evaluation. Claims representatives in the traditional paradigm often pay the lowest, or average, of multiple replacement quotes, or rely on exclusive relationships with local jewelry replacement vendors. Claims representatives in the traditional paradigm also cannot accurately evaluate vendor replacement prices or like kind and quality using database pricing systems, because such systems are not available for jewelry which is normally sold without brand names or manufacturer information.