arjunajane
Ideal_Rock
- Joined
- Jan 18, 2008
- Messages
- 9,758
On a different tip, and one that Mr James also touched on in his article - insuring these "diamonds" poses an absolute nightmare, that as someone that works in the insurance industry, it boggles the mind!
Thankfully, there is no such thing as LifeGem in Australia yet and I hope there never will be.
I can not imagine any Insurance company taking on such a great risk to insure somebody's "Dear old dad" - can you imagine, how do you replace someone's mother or grandfather with 'Like Kind and Quality"?!
Its just absurd.
Infact, I would go as far as to venture that a whole new set of insurance underwriting guidelines would need to written I imagine just to cover this product..I know the Co I work for would not.
I wonder if Lifegem tells their potential customers this, as they walk around with 20k gems..?
The issue of loss of these gems was glossed over by Rusty earlier, but personally I feel bad for the numerous people out there wearing these gems who simply would be not covered for loss or theft..
Thankfully, there is no such thing as LifeGem in Australia yet and I hope there never will be.
I can not imagine any Insurance company taking on such a great risk to insure somebody's "Dear old dad" - can you imagine, how do you replace someone's mother or grandfather with 'Like Kind and Quality"?!
Its just absurd.
Infact, I would go as far as to venture that a whole new set of insurance underwriting guidelines would need to written I imagine just to cover this product..I know the Co I work for would not.
I wonder if Lifegem tells their potential customers this, as they walk around with 20k gems..?
The issue of loss of these gems was glossed over by Rusty earlier, but personally I feel bad for the numerous people out there wearing these gems who simply would be not covered for loss or theft..