Insurance Policy Covers Freak Diamond Accidents
30 May, 2014 01:01 PM
A Mumbai diamond company has received the relief it sought from the Bombay High Court to ensure that its insurance policy is paid in full, after the insurance company denied its strange claim, the Mumbai Mirror reports. The court directed the United India Insurance Company to pay the equivalent of approximately $1.19 million to C Mahendra Exports for diamonds it lost in a freak accident.

The incident in question occurred back in September 2001, when a boiler which was cleaning 470 carats of diamonds exploded. Another batch of diamonds, 2,300 carats worth, had been sitting next to the boiler, and the force of the sudden blast blew the entire parcel out the nearby window and into the street below. Although the window was reinforced and covered in iron bars, the explosion shattered it and blew the stones right out of it. Only a fraction of the precious gems, about 570 carats worth, were recovered from the windowsill and on the balcony across the street, according to the Mumbai Mirror.
Source : The Israeli Diamond Industry

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