Alliance Insurance Brokers Settles ₹32 Crore Jewellery Claims In FY26; Employee Dishonesty Emerges Top Risk

New Delhi, Sep 3: Alliance Insurance Brokers settled more than Rs 75 crore in insurance claims across jewellery and specie-related risks during the financial year ended March 2026, with employee dishonesty, theft and transit losses emerging as key areas of exposure, the company said.

The broker said it settled Rs 32.26 crore in jewellery and specie insurance claims across 162 cases during FY2025-26. The claims involved organised jewellery chains, wholesalers, exporters, manufacturers, retailers, bullion dealers, gold-for-loan businesses and individual customers.

Jewellery insurance risks highlighted

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

"Jewellery and Specie Insurance forms a specialised niche that has immense potential and is becoming increasingly relevant every year. Since the prices of gold, diamonds and precious stones keep increasing, insurance becomes important not only to protect expensive stocks but also to ensure business continuity," said Kush Shah, Co-Owner & Divisional Director, Alliance Insurance Brokers.

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

Risk assessment initiatives planned

Alliance Insurance Brokers said it plans to conduct risk assessments and claim simulation exercises at client sites over the next 12 to 18 months. The exercises, which the company calls "Mock Claims analysis", will focus on policy coverage, claims documentation and security measures.

The company said the exercises will also include reviews of clients' existing insurance and risk-management arrangements, followed by gap analyses covering findings, observations, suggestions and recommendations aimed at improving risk awareness and reducing claims.

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Broker expands insurance portfolio

Alliance Insurance Brokers, which operates as an insurance service provider, risk manager and reinsurance broker, said it has grown its revenue to nearly Rs 200 crore over more than two decades.

The company said it has collected nearly Rs 8,000 crore to Rs 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.

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