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Jewelry Valuation & Adjustment

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The “Jewelry Valuation & Adjustment” course teaches insurance professionals how to assess claims for damaged or lost jewelry. The module is presented by Dana Heiss Grodin, GG, Vice Presidents / Claims at Gemcor, Inc.. The module explores how diamonds and gemstones are valued, how to assess appraisals, and how to identify potential fraud. True-to-life examples are included as case studies. After completing the course, the attendee will be able to: identify the Four Cs used in diamond valuation; determine whether a diamond is genuine or not; evaluate the cost of diamonds using industry guidelines; read appraisals to determine valuation; and identify red flags indicating potential fraud. The course is designed for insurance professionals working in the area of property adjusting.

What CE Credit is available?

Note: To qualify for credit, you must submit completion (including a passed final exam if required) within five days of completing the last quiz. No partial credits will be awarded.

State:
Adjuster General CE Hours:
Adjuster Ethics CE Hours:
Attorney General CLE Hours:
State's Course ID:
NH 2.0 484907
TX (classroom equivalent) 1.0 119406
NC 2.0 210538
FL * ( Provider Number: 364169 ) 2.0 Optional 1198950
IL 2.0 546256
WY 2.0 30289
OK 2.0 6000049199

* This course has been approved by the Florida Department of Financial Services for insurance continuing education credit.

Course Content

Jewelry Basics: Diamonds & Gemstones
Expand
Lesson Content
  1. Introduction
  2. Roadmap
  3. Diamond Popularity
  4. Natural Diamonds
  5. Enhanced Diamonds
    1. Cost
    2. Disclosure
    3. Identification
  6. Branded Diamonds
  7. Lab-Grown Diamonds
  8. Diamond Simulants
  9. Other Gemstones
  10. Conclusion
The Four Cs of Diamond Valuation
Expand
Lesson Content
  1. Introduction
  2. Cuts
    1. Round Brilliant
    2. Fancy Cut
    3. Older Cuts
  3. Color Scale
    1. Fancy Color
    2. Artificial Color
  4. Clarity
  5. Carat Weight
  6. Cost & The Rapaport Diamond Report
    1. Cut
    2. Carat Weight
    3. Color & Clarity
    4. Example
    5. Industry Guideline
  7. Conclusion
Appraisals & Certificates
Expand
Lesson Content
  1. Questions About Appraisals
  2. Defining Appraisals
  3. Contents of Appraisals
  4. Valuation of Gemstones
  5. Valuation of Mountings
  6. Appraisers
    1. Unqualified Appraisers
    2. Qualified Appraisers
  7. Retail Replacement Value Appraisals
  8. Updating Appraisals
  9. Fair Market Value Appraisals
  10. Gemological Certificates
    1. Cut Grade
    2. Respected Certificates
  11. Conclusion
Coverage & Settlement
Expand
Lesson Content
  1. Emotional Aspect of Jewelry Claims
  2. Ideal Claims Process
  3. Scheduled Items
    1. Actual Cash Value
    2. Replacement Cost Value
    3. Agreed Value
  4. Unscheduled Items
  5. Communication with the Insured
    1. Next Steps
  6. Gathering Appraisal Data
  7. Examples
    1. Appraisal Underestimates Cost
    2. Appraisal Overestimates Cost
    3. Damage Report
    4. Look Up By SKU
    5. Recent Appraisal
  8. Exercise Empathy
  9. Conclusion
Common Claims Challenges
Expand
Lesson Content
  1. Claims Challenges
  2. How RCV is Determined
    1. Designer Items
      1. Tiffany & Co.
      2. Harry Winston
    2. Other Factors in Determining RCV
  3. Recreating a Ring
  4. No Appraisal
  5. Rolex Issues
  6. Forensic Evaluation
    1. Average Commercial Quality
    2. Pencil Eraser
  7. Inflated Appraisals as Sales Tools
    1. Handling Inflated Appraisals
  8. Discontinued Items
Fraud
Expand
Lesson Content
  1. Examples: Potential Types of Fraud
  2. Fraud Indicators: Belligerence
  3. Handing Fraud: Proof of Ownership
  4. Examples: Chipped Diamond
  5. Handling Fraud: Examining Appraisals
  6. Fraud Indicators: Involving SIU
  7. Examples: eBay Appraisals
  8. Fraud Indicators: Illegitimate Appraisals
  9. Handling Fraud: What SIU Can Do
  10. Examples
    1. Switched CZ – Fraud Not Indicated
    2. Switched CZ – Potential Fraud
    3. Demanding Money for Salvage
    4. Faux-Lex
  11. Red Flags Do Not Necessarily Mean Fraud
  12. Conclusion
Get CE Credit or Certificate of Completion.

Submit within 5 days to get CE Credit or Certificate of Completion.

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