1 hr ago
Alliance Insurance Brokers Reports Jewellery Claims Settlement Amid Amount Discrepancy
Alliance Insurance Brokers helps businesses protect valuable items such as jewellery, gold and precious stones.
It said it settled insurance claims worth INR 32.26 crore in one financial year.
These claims came from 162 different cases.
The affected customers included jewellery companies, dealers, manufacturers and some individuals.
The biggest problem involved employees or artisans acting dishonestly.
The company said rising prices make insurance more important.
It also wants businesses to check whether their employee dishonesty coverage is large enough.
Within 12 to 18 months, it plans to conduct safety reviews and practice claim exercises for clients.
The release has a difference between its headline, which says more than INR 75 crore, and its detailed figure of INR 32.26 crore.
Alliance Insurance Brokers said it settled INR 32.26 crore in jewellery and specie insurance claims during FY 2025–26.
The claims covered 162 cases involving jewellery businesses, bullion dealers, gold-for-loan operators and individual customers.
Employee or karigar dishonesty was the largest claims category by both case count and claim amount.
The release’s headline refers to more than INR 75 crore in settled claims, while its detailed figures cite INR 32.26 crore.
The broker plans risk assessments and mock-claims exercises at client sites within the next 12 to 18 months.
- Who
- Alliance Insurance Brokers and customers in the jewellery and specie insurance sector.
- What
- The company reported settling jewellery and specie insurance claims and outlined planned risk-readiness exercises.
- Where
- The announcement was issued from New Delhi; planned assessments will take place at client sites.
- When
- During FY 2025–26; the announcement was dated September 4, 2026, and planned exercises are expected within 12 to 18 months.
- Why
- Rising prices of gold, diamonds and precious stones increase potential losses, while insurance can protect stocks and support business continuity.
Key facts
- Reported detailed settlement amount
- INR 32.26 crore
- Claims covered
- 162 cases
- Financial year
- FY 2025–26
- Headline amount
- More than INR 75 crore, which differs from the detailed INR 32.26 crore figure
- Largest claims category
- Employee or karigar dishonesty, by both number of cases and claim amount
- Planned initiatives
- Risk assessments and mock-claims exercises at client sites within 12 to 18 months
- Company revenue
- Nearly INR 200 crores, according to the company’s description
Quotes
Kush Shah
Co-Owner and Divisional Director of Alliance Insurance Brokers
“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.”
freepressjournal.in
Sources
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