Specie Insurance
Some of uncommon trades and assets carrying disproportionate values have special risks and insurance requirements which are requires specific insurance policies covering associated risks. Followings are the most common form of Specie insurance policies being offered by insurers in India:
Finite and older than mankind, some almost as old as the earth
itself, diamonds and gold are rare and protecting the irreplaceable
requires specialist knowledge. Our team at Unilight takes an
entrepreneurial approach to finding customized solutions for diamond
manufacturers, gold jewelry wholesalers, jewelry retailers, watches
retailers, luxury goods retailers, precious stone dealers and
secured carriers.
Fine Arts would include not only paintings, but also any other
object which is subject to value appreciation due to age,
description, history and rarity e.g. sculptures, visual arts
(ceramics, murals, works on paper etc.), other antiques, rare
stamps, coins or other collections, vintage vehicles etc. Fine Art
Insurance Policy provides protection to private collectors and
dealers against loss or damage to these very high value items on an
agreed value basis.
Cash Logistics and ATM Service industry around the world witness
substantial losses due to theft of funds by external attackers and
infidelity of employees during transit of cash and vaulting of cash.
Cash Currency Management Services Insurance Policy provides cover to
these operator safety from any kind of physical loss handling,
storing and/or transporting valuables.
Personal / Business loan against security of gold or bullion is
picking up momentum. As a process, Banks, NBFC take gold and bullion
in their custody and retain till the loan is repaid. These
possessions need to be protected against risk of Fire, Burglary,
transit risk between bank branch to custodian branch or
vice-a-versa. Bullion custodians and Vaulting contractors also have
similar needs for protection. Bullion insurance protects bullion
throughout its journey.