Alliance Insurance Brokers Settles ₹32 Crore Jewellery Claims

Alliance Insurance Brokers has settled more than ₹75 crore in insurance claims across jewellery and specie-related risks during the financial year ended March 2026. The company settled ₹32.26 crore in jewellery and specie insurance claims across 162 cases during FY2025-26.

The claims involved various businesses, including organised jewellery chains, wholesalers, exporters, manufacturers, retailers, bullion dealers, gold-for-loan businesses, and individual customers.

Employee or karigar dishonesty accounted for the largest share of claims, both by number of cases and claim value. This highlights the need for businesses to periodically reassess their fidelity guarantee coverage.

According to Kush Shah, Co-Owner & Divisional Director, Alliance Insurance Brokers, jewellery and specie insurance forms a specialised niche that has immense potential and is becoming increasingly relevant every year.

Fidelity guarantee insurance protects businesses against direct financial losses resulting from fraudulent or dishonest acts committed by employees.

Alliance Insurance Brokers plans to conduct risk assessments and claim simulation exercises at client sites over the next 12 to 18 months. The exercises will focus on policy coverage, claims documentation, and security measures.

The company has grown its revenue to nearly ₹200 crore over more than two decades. It has collected nearly ₹8,000 crore to ₹9,000 crore in premiums over the past five years, with annual growth of 20 per cent to 25 per cent.

Its insurance offerings include employee benefits, corporate risk management, liability and property insurance, as well as specialty segments including sports, jewellery, films and entertainment, aviation, financial institutions, infrastructure and energy, and affinity businesses.

The settlement of ₹32 crore in jewellery claims highlights the importance of insurance in protecting businesses against potential risks.

In the context of the Indian insurance industry, the growth of Alliance Insurance Brokers is a significant development. The company's expansion of its insurance portfolio and its plans to conduct risk assessments and claim simulation exercises demonstrate its commitment to providing comprehensive insurance solutions to its clients.

The emergence of employee dishonesty as a top risk in the jewellery and specie insurance sector underscores the need for businesses to implement effective risk management strategies.

Overall, the settlement of ₹32 crore in jewellery claims by Alliance Insurance Brokers is a notable achievement that highlights the importance of insurance in protecting businesses against potential risks.

The company's growth and expansion plans are expected to contribute to the development of the Indian insurance industry, which is becoming increasingly important in the country's economy.

As the prices of gold, diamonds, and precious stones continue to increase, the demand for jewellery and specie insurance is likely to grow, making it a critical component of the Indian insurance industry.

In conclusion, the settlement of ₹32 crore in jewellery claims by Alliance Insurance Brokers is a significant development that highlights the importance of insurance in protecting businesses against potential risks. The company's growth and expansion plans are expected to contribute to the development of the Indian insurance industry, which is becoming increasingly important in the country's economy.