How to Layer your Risk

Why it matters: Layering your risk with different risk mitigation solutions options is smart business and can save you hikes in block premiums if there are shipping losses.  

What you can do: Evaluate your block policy by looking at the amount of coverage, deductibles and other elements. Consider an insured shipping provider to offset risks associated with shipping losses.

Many jewelers’ block policies are one-size-fits-all, with transportation coverage built right into the policy. With increasing direct-to-consumer shipments, businesses have higher risk exposure. And, if you regularly ship high-value goods, one significant transportation claim can result in higher premiums or lost coverage.

That’s why many businesses layer their risk with an insured shipping option from providers like Parcel Pro. This approach allows you to manage the risk of in-transit shipments without impacting the integrity of your block policy, which you’ll likely need for more catastrophic situations. 

Benefits of this approach:

• Separate shipping from your block policy to reduce the risk of increasing premiums in the event of a loss.
• Work with insured shipping providers that have risk mitigation protocols in place to help reduce the incidence of loss and help with recovery if one occurs.
• Craft protection according to your business needs, with no unnecessary coverages or wasted premiums.

Helping prevent losses is at the core of what we do. Contact a member of the team for more details about how we can help your business.