{
  "id": 5556704,
  "title": "Alliance Insurance Brokers settles INR 75 crores+ Of claims In Jewellery And Specie insurance In FY 2025–26",
  "url": "https://urgent.news/2026/09/04/alliance-insurance-brokers-settles-inr-75-crores-of-claims-in",
  "topic": "world",
  "section": "World",
  "published": "2026-09-04T12:23:21.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/alliance-insurance-brokers-settles-inr-75-crores-of-claims-in-jewellery-and-specie-insurance-in-fy-202526"
  },
  "original_language": "en",
  "account": "Alliance Insurance Brokers, a prominent insurance service provider, risk manager, and reinsurance broker, has finalized claims totaling INR 32.26 crore related to jewellery and specie insurance for the fiscal year 2025–26. These claims pertain to 162 instances involving organized jewellery chains, wholesalers, exporters, manufacturers, retailers, bullion dealers, gold pawn brokers, and individual customers.\n\nEmployee dishonesty emerged as the primary cause of claims, both in terms of case volume and financial magnitude. Kush Shah, Co-Owner & Divisional Director of Alliance Insurance Brokers, emphasized that the jewellery and specie insurance sector is a specialized niche with growing significance, primarily due to the escalating prices of gold, diamonds, and precious stones. He stated, \"Insurance becomes crucial not only to safeguard expensive stocks but also to ensure business continuity in this rapidly changing market.\"\n\nThe claims data underscores the necessity for businesses to periodically reassess the appropriateness of their fidelity guarantee coverage, which safeguards companies from financial losses resulting from fraudulent or dishonest acts committed by their employees. Acknowledging the critical role of precious metals and stones in determining potential losses, Alliance Insurance Brokers plans to intensify its focus on risk readiness specifically for jewellery sector clients. Over the next 12 to 18 months, the company intends to conduct risk assessments and claim simulation exercises to enhance awareness of policy coverage, claims documentation, and security measures. This initiative, known as Mock Claims analysis, will also involve a comprehensive review of existing insurance and risk management practices, followed by a gap analysis outlining recommendations for improving awareness and reducing claims.\n\nAlliance Insurance Brokers, a leading player in the insurance industry, has experienced remarkable growth since its inception. With revenues rising from zero to nearly INR 200 crores over the past two decades, the company has collected premiums amounting to approximately INR 8,000 to 9,000 crores. While the majority of insurers concentrate on life, health, and motor insurance, Alliance Insurance Brokers also offers coverage in various segments, including employee benefits, corporate risk management, liability, property, and specialty insurance, such as sports, jewellery, films and entertainment, aviation, financial institutions group, infrastructure & energy, and affinity sectors.",
  "summary": "New Delhi, September 04, 2026 : Alliance Insurance Brokers, one of the leading insurance service providers, risk managers, and reinsurance brokers, has settled claims amounting to INR 32.26 crore in jewellery and specie insurance during FY 2025–26. The claims have been made for 162 cases, from organized jewellery chains, wholesalers, exporters, manufacturers, retailers, bullion dealers, gold for…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}