Secured Worldwide: Lloyd's of London Backs VULT Global Guarantee
October 11, 16(IDEX Online) – Secured Worldwide, the creators of VULT, a diamond investment product, has won the backing of the Underwriters at Lloyd's of London for VULT's warranty of the authenticity of every diamond in VULT units sold to consumers by Secure Worldwide.
"The VULT system turns diamonds into a liquid, fungible asset," the firm said in a statement. "Specifically, VULT is a consumer financial FinTech product that uses internet-based technologies and state of the art authentication coupled with investment-grade diamonds and space-age materials to address the need of consumers for a portable store of wealth and tangible asset.
"This first-ever policy backs Secured Worldwide's guarantee that the diamonds contained in VULT are exactly as listed at the time of the products original sale. If at any time after purchase the diamonds in VULT are found to be otherwise, the company will refund the original purchase price or replace the product at no charge to the buyer."
The company said that VULT helps identify and capture the most in demand diamonds. "Each of our VULT units is interchangeable with another in its class, as the value of the diamonds selected represent a standard denomination, ranging from $25,000 to $250,000," said Joseph A. Lipton, CEO of Secure Worldwide.
"Of course, VULT offers additional exclusive advantages. VULT units are portable, tradable and transferable worldwide across continents and cultures, and their identity and value can be assessed on a smartphone, anywhere is the world," Lipton explained. "And different from any other diamond investment product, Secured WorldWide now offers a warranty that is backed by the financial strength and claims-paying ability of the Underwriters at Lloyd's of London, under the company's policy," he continued.
"In practice, it means that Lloyd's backs Secure Worldwide's guarantee that the diamonds contained in every VULT sold are exactly as listed at the time of the products original sale," he continued.
"In the - most unlikely - event that after purchase the diamonds in VULT are found to be otherwise, Secure Worldwide will refund the original purchase price or replace the product at no charge to the buyer," he added.
In light of the above, we view the backing by the Underwriters at Lloyd's of London of Secure Worldwide as testimony to the long term investment value of the high-end diamonds that the various VULT product classes offer," the Secure Worldwide CEO concluded.