TH March: Jewellery recovery will not delay payouts

Jewellery trade insurance broker TH March has broken its silence over the Hatton Garden robbery in a bid to reassure customers who were victims of the recent heist.

The firm says it “welcomes” the news that significant progress has been made by police and says it “will not delay customers’ claims being settled”.                                  

In a statement, TH March said its policy on high profile jewellery trade crimes is normally to “remain quiet on such matters” but broke with normal protocol particularly because of comments in the mainstream media regarding insurance settlement delays.

Managing Director Neil McFarlane said: “It has been business as usual at TH March but the time is right now to put to rest some victims’ serious concerns over possible delays in insurance payouts, especially in the wake of recent developments.

“I am really pleased to say that TH March settled its first claim in full in just over three weeks. This was for a five figure sum.  Claims for all of our other clients affected are being dealt with as quickly as possible, subject to the usual obligations regarding proof of loss.”

He added: “It is excellent news that a number of people have been caught and charged, together with the recovery of a substantial amount of the stolen jewellery and I want to make it clear that the insurers we deal with have confirmed they will continue to work towards settling all claims, rather than using this as a delaying tactic.

“In the wake of the devastating raid at the Hatton Garden Safe Deposit Ltd, there has been a lot of speculation and negativity about how the insurance industry might deal with these claims. The issues are complex. In the midst of all of this, TH March has simply got on with the job of dealing with its customers’ insurance claims and legitimate concerns.”