Luxury watch dealer Anthony Farrer pleaded guilty late last year to defrauding clients in a scheme with Ponzi-type elements.
What to Do Before and After a Hurricane
As Hurricane Laura makes its way north, Berkley Asset Protection and Jewelers Mutual Group offer 26 tips for jewelers on preparing for, and dealing with, major storms.
New York—Hurricane Laura made landfall early Thursday morning near the Texas-Louisiana border.
The Category 4 storm is the second named hurricane of the year, following Hurricane Hanna in late July.
After “rapid intensification” over a 24-hour period into Wednesday, Laura lashed the coast with 140-mile-per-hour winds when it hit land.
According to the National Oceanic and Atmospheric Administration, the massive storm was downgraded to a Category 2 by Thursday morning but still had sustained winds of more than 100 mph and is expected to cause “catastrophic damage.”
Through the week, NOAA expects Laura to move up the Texas-Louisiana border and into Arkansas before heading east, through southeast Missouri, northern Tennessee and southern Kentucky.
Insurance companies Berkley Asset Protection and Jewelers Mutual Group offer tips to help retailers that are in the storm’s path prepare.
1. Stock up on emergency supplies if you haven’t already. This includes plywood for windows if there are no shutters, as well as mops, brooms, tarpaulins to cover key equipment and sandbags.
2. Keep an eye on TV, radio and online to monitor weather conditions and the issuing of watches and/or warnings.
3. Test generators, emergency lighting, uninterruptible power source equipment and sump pumps to make sure they’re functioning properly.
4. Put items that could be picked up by wind, such as store signs and outdoor furniture, inside the building.
5. Close windows, doors and hurricane shutters. If you don’t have the latter, close and board up all windows and doors with plywood.
6. Turn off propane tanks and unplug small appliances.
7. Store jewelry inventory in the safe or in a bank.
8. Make sure the computer system is fully backed up and that a copy of key information—like inventory records, repairs, vendors, year-to-date sales, vendors and contacts—has been made to be kept in a safe place away from the store. Jewelers Mutual has a checklist of such material in its Hurricane Preparedness Guide.
9. Charge cell phones and download a weather app, like NOAA Now or NOAA Weather.
10. Give both your staff and local law enforcement your cell phone number.
11. Cover computers, machinery, supplies and other areas with tarps. Avoid storing materials on the floor if they could be damaged by water.
12. Fill your car’s gas tank and get extra cash out.
13. Create an evacuation plan and communicate it to your team, business neighbors and family members. Learn safe routes to travel inland.
14.
15. Since most business insurance plans don’t cover flooding, consider flood insurance through the National Flood Insurance Program, which must be purchased in advance.
16. Do not go near standing water or moving water, or attempt to drive across flowing water.
Berkley Asset Protection and Jewelers Mutual Group also have 10 tips for retailers that apply to after a hurricane has come through.
1. Do not return to the area until the authorities say it is safe to do so.
2. Survey for damage and take pictures of any damage to the building and its contents.
3. Contact your security company and insurance agent as soon as possible to report damage and review next steps.
4. Check for downed power lines and exposed electrical lines. Report loose or dangling power lines to the local utility company, police or fire department.
5. Before utilities are turned back on, check for gas leaks, look for electrical system damage and check for sewage and water line damage.
6. Complete temporary and immediate repairs to minimize hazards and ensure the building can be safely accessed.
7. Remove all debris as soon as the adjuster has been contacted, and separate damaged property from undamaged property, taking care to protect the latter.
8. Use the telephone only for emergency calls, keep abreast of the current situation, and account for all employees.
9. Critique your pre- and post-storm actions to find strengths and weaknesses and make necessary adjustments for the next emergency.
10. As you are setting up the store again, don’t forget to take COVID-19 protocols into account.
“Remember that COVID didn’t go away just because Laura showed up. You should still be taking the necessary precautions—wearing a mask, washing hands, and social distancing,” said Andrew Chipman, vice president of jewelers block at Berkley Asset Protection.
For additional help from either company, visit BerkleyAssetPro.com or JewelersMutual.com.
The Latest
In its full-year results, the retailer shared its 2025 outlook and an update on the global rollout of its lab-grown diamond collection.
Celebrate February birthstones and the gem shows in Arizona this month with a versatile stone like amethyst.
Colored stones are stepping into a jewelry spotlight typically reserved for diamonds—are you ready to sell color?
Scheetz has been with the nonprofit since 2007.
The agreement will allocate an increasing proportion of the country’s rough diamonds to the government of Botswana over the next decade.
“Cosmic Splendor: Jewelry From the Collections of Van Cleef & Arpels,” opens April 11 at the American Museum of Natural History.
The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.
Those celebrating Valentine’s Day this year are expected to spend a record $27.5 billion on jewels, flowers, candy, and more.
From Lady Gaga’s 1930s Tiffany & Co. necklace to Taylor Swift’s “T,” Michelle Graff recaps the night’s most memorable jewelry looks.
Layoffs will reportedly start next month as HSN plans to move into QVC’s location in Pennsylvania.
A group of creatives talked to Associate Editor Lauren McLemore about their approach to the annual Tucson gem, mineral, and fossil shows.
The auction also featured the sale of a Cartier necklace made when Egyptomania was sweeping Great Britain.
The “Blossom Rosette” blooms with love, beauty, and hope for the year ahead.
For every jeweler who tries their luck, the company will make a donation to Jewelers for Children.
The boards of at least five chapters have resigned in response to controversial statements the WJA national board president made last month.
An experienced jewelry writer and curator, Grant led the organization for two years.
Five new designs were added, all donning Tahitian cultured pearls and spear-like trident motifs, along with the new “Titan” setting.
The inaugural event is being co-hosted by the American Gem Society and the Gemological Institute of America.
Jewelers of America’s Annie Doresca and AGTA CEO John W. Ford Sr. are among the new members.
The jeweler’s latest high jewelry collection looks into the Boucheron archives to create a “living encyclopedia of high jewelry.”
Watch and jewelry sales slipped 3 percent in 2024, though the luxury conglomerate did see business pick up in the fourth quarter.
Olivier Kessler-Gay will take over the role on March 3.
It hit a four-month low in January due to concerns about the job market, though consumers remain bullish about the stock market.
The jewelry designer and master metalsmith will present on the ancient Japanese metalworking technique at the Atlanta Jewelry Show in March.
The “Moments” social media campaign emphasizes the emotional ties between natural diamonds and life’s special milestones.
The versatile “As We Are” collection features 14 pieces with interlocking designs allowing for 27 different looks worn around the body.