Kathmandu. Insurance claims for lost and stolen luxury watches have grown the fastest in Asia. Insurance companies have reported an average increase of 21% in premium watch insurance claims over the past three years. <\/p>\n
According to new research by The Watch Register, a survey of 100 insurance loss adjusters and claims managers from Asia, the Americas, Europe and the Middle East found that claims for luxury watches globally increased by an average of 17 percent. About 67 per cent of respondents said insurance claims have increased by 10 per cent to 25 per cent. While 9 percent of the respondents said they saw an increase of 25 percent to 50 percent. <\/p>\n
In comparison, U.S. insurers reported an average increase of 15 percent. Insurance companies expect claims to rise. They expect an average growth of 24 percent in the next three years. <\/p>\n
More than half (54%) of respondents expect claims to rise from 10 per cent to 25 per cent. While 32 percent of respondents expect it to increase from 25 percent to 50 percent. <\/p>\n
The survey also found that 77 percent of insurance companies saw more defective title claims from jewelers who purchased stolen watches unknowingly. That’s why 83 percent of insurers are now required to check a database of stolen watches before paying such claims. <\/p>\n
Watch Register has identified more than 5,000 lost and stolen watches since its inception, and last year it discovered stolen watches in 34 countries. \u2013Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Insurance claims for lost and stolen luxury watches have grown the fastest in Asia. Insurance companies have reported an average increase of 21% in premium watch insurance claims over the past three years. According to new research by The Watch Register, a survey of 100 insurance loss adjusters and claims managers from Asia, the […]<\/p>\n","protected":false},"author":16,"featured_media":305254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45044,45159],"tags":[],"class_list":["post-305269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/305269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=305269"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/305269\/revisions"}],"predecessor-version":[{"id":305270,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/305269\/revisions\/305270"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/305254"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=305269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=305269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=305269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}