Marilyn Monroe's classic song needs updating after a recent bizarre claim – diamonds, apparently, are a man's best friend's friend.

The Loss Management Group has handled many a doggone claim in its time, but the latest (in 2000) took the biscuit.

A London man made a claim for a £500 diamond stud earring that had apparently been wolfed down by a neighbour's large guard dog.

Apparently, the Great Dane/Bull Mastiff Cross jumped up at him, placed its paws on his shoulders, licked his ear “like crazy” and swallowed the diamond stud.

Describing the dog as a “huge monster with big bitey teeth”, the claimant said he had paid for the stolen sparkling stud in hard cash. But was the claim a shaggy dog story?

The man did not have a receipt, had never had the earring valued, could not remember which jeweller he had bought it from and had no pictures of himself wearing it because he was “camera shy”.

When asked by the Loss Management Group whether he could not retrieve the earring when nature took its course, the policyholder reported that he had absolutely no intention of following the dog around Streatham Common for three days in the hope of finding the stud, as he did not want to get arrested for soliciting.

The claim was subsequently dropped.