Answer:  International Gemological Institute (IGI), issues Summation of Appraisal, which is an appraisal of a piece of jewelry suitable for insurance purposes. Gemological Institute of America (GIA), issues Diamond Grading Reports. This is a complete technical description of the diamond as it is loose, prior to being mounted in the setting. GIA does not assign any monetary value to the diamond, just specific measurements and quality grades, identifying that particular diamond vs any other. If a diamond has a Diamond Grading Report from GIA, IGI will reference that report in the appraisal.