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45 www.thejewelrybook.com • Employment practices: As an employer, a jeweler may be sued for discriminatory hiring practices, failure to promote, wrongful termination, or even sexual harassment. Employment practices insurance is important to protect the business in the event of a potential claim. • Fiduciary liability: Jewelers often offer employee benefi t programs such as 401(k) plans. These offerings generate risk to the employer that can be protected against with a fi duciary liability policy. And since standard jewelers block coverage is limited to losses that are incurred while on the business prem- ises, jewelers should consider enhancements to their block coverage to protect inventory off-site, including but not limited to: • Transit coverage: If jewelry is ever carried outside the store by you or your employees, add transit cover- age to your block policy to cover inventory outside the business premises. • Memo Goods coverage: If you entrust goods to another dealer in the trade for sale, repair, or enhanced servicing such as engraving, polishing or cutting, con- sider Memo Goods coverage as a safety net in the event the dealer may be uninsured or underinsured. • Shipping coverage: Most policies offer specifi ed and limited coverage for items shipped through the US postal service. A separate limit of coverage can be obtained for Private Parcel Service (UPS and FedEx). • Bank Vault coverage: It may be prudent to have Bank Vault coverage as part of your business emer- gency contingency plan to secure goods in the event of a power outage, alarm system failure or natural emer- gency such as a hurricane. About Jewelers unBLOCKed™ Jewelers unBLOCKed Collector Edition™ offers tai- lored insurance programs created to meet the heightened exposures of the discerning private client. For more information about Jewelers unBLOCKed™, please visit www.jewelers-unblocked.com. Patricia K. Low President and CEO, Jewelers unBLOCKed™ and Jewelers unBLOCKed Collectors Edition™ Patricia K. Low has over 30 years' experience in the insurance industry and holds over 40 insurance licenses. Ms. Low has an extensive background in the luxury goods industries, and has represented leading jewelry fi rms for over 25 years. Jewelers unBLOCKed™ is an outgrowth of her long-term and in-depth involvement in the jewelry industry. Sylvie Supreme Michael John Jewelry I N S U R A N C E J E W E L E R S U N B L O C K E D

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