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Submariner2015 · 18 June 2015, 07:38 AM

This has been a great thread to read to pass the time: drama, suspense, mystery, foreign elements, cliff-hangers, and best of all： WGRolex Daytona ��

123Blueface · 18 June 2015, 10:16 AM

Tom,
Sorry for event but glad OK and being eventually reunited with watch.
Being an insurance claims manager for 33 years, just solely based on OP to start thread, I can sort of explain what I think happened with your claim.

HO policies are "peril" policies. Many if not all specify the covered events (perils). Your policy may have off premises exclusion or exclusion for what in this case was initially perceived by them as "mysterious disappearance" since you could only assume those two took your watch. As it turns out now, it was obviously stolen and I think your carrier, if a typical policy, would have to afford coverage up to the limits for any one item, in this case $3,000. The fact your item exceeded the limit for one item is not something I can conceive them being able to deny.

Again, there may be a whole lot more that I would need to properly asses it but based on my experience, I think I am in the ballpark. I would hope they acted according to the contract and ethically as I would expect my company to do. If they didn't, there should be something in Japan like here in the states, where all carriers are regulated by state insurance departments and you can always seek their intervention. I mention this as should your watch be damaged when you get it back, I think you have a very valid argument to get paid to repair it, up to the $3,000 limit per item.

All that said, if you had a floater, that would be different as that is an "all risk" coverage and perils don't apply but doubt that is what you have as they would have otherwise insured it to ful value.

Hope that helps you and others who read this.

18 June 2015, 07:38 AM	#181
Submariner2015 "TRF" Member Join Date: May 2015 Location: USA Watch: SubC Date Posts: 325	This has been a great thread to read to pass the time: drama, suspense, mystery, foreign elements, cliff-hangers, and best of all： WGRolex Daytona ��

18 June 2015, 10:16 AM	#182
123Blueface "TRF" Member Join Date: Jun 2015 Location: USA Watch: All Posts: 5,316	Tom, Sorry for event but glad OK and being eventually reunited with watch. Being an insurance claims manager for 33 years, just solely based on OP to start thread, I can sort of explain what I think happened with your claim. HO policies are "peril" policies. Many if not all specify the covered events (perils). Your policy may have off premises exclusion or exclusion for what in this case was initially perceived by them as "mysterious disappearance" since you could only assume those two took your watch. As it turns out now, it was obviously stolen and I think your carrier, if a typical policy, would have to afford coverage up to the limits for any one item, in this case $3,000. The fact your item exceeded the limit for one item is not something I can conceive them being able to deny. Again, there may be a whole lot more that I would need to properly asses it but based on my experience, I think I am in the ballpark. I would hope they acted according to the contract and ethically as I would expect my company to do. If they didn't, there should be something in Japan like here in the states, where all carriers are regulated by state insurance departments and you can always seek their intervention. I mention this as should your watch be damaged when you get it back, I think you have a very valid argument to get paid to repair it, up to the $3,000 limit per item. All that said, if you had a floater, that would be different as that is an "all risk" coverage and perils don't apply but doubt that is what you have as they would have otherwise insured it to ful value. Hope that helps you and others who read this.

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