Marsh to work with diamond trade broker

Marsh has agreed to work with worldwide diamond trade insurance broker Driesassur NV.

The working relationship is formed with Marsh’s Specie Practice, which delivers insurance services and advice concerning valuable property, precious metals and stones in transit or at rest.

Marsh will provide specialist risk solutions to Driesassur’s diamond industry clients, as well as access to insurance cover for stock on their premises and in transit worldwide. Marsh will also provide a claims negotiation resource.

Commenting on the new relationship, Philip Turner, managing director of Marsh’s Specie Practice, said: “Clients are demanding ever-broader and more sophisticated coverage, as well as specialist risk advisory services, which are integral to Marsh’s offering in this sector. Marsh’s services encompass the full spectrum of risk for the worldwide diamond trade, from mining for precious stones in volatile geographies through to high-end retailing, where often gems worth hundreds of millions of dollars have to be insured for display at trade shows and exhibitions.

“We are delighted to be working with Driesassur and are excited about the benefits our relationship will bring to clients globally. Driesassur is renowned for having highly dedicated professionals that are committed to offering the best service both to clients and underwriters.”

Alain Spruyt, chief executive of Driesassur NV, added: “The insurance industry has changed considerably in recent times and the role of the London broker is no longer just to ‘place the file’. We were looking for a firm that has an incisive understanding of the risk and insurance issues that concern our clients the most, with excellent service solutions and contacts in the industry to match. We found these qualities in Marsh. The strong commitment from Marsh, Driesassur and the underwriters who support us make our team a force to be reckoned with in the industry.”