GSB Seva Mandal 2017 gets 264.25-crore Insurance Cover — Mumbai’s wealthiest mandal, GSB Seva Ganesh Mandal, has taken insurance for a whopping ₹264.25 crore from a public sector general insurance.
The GSB Seva Mandal is even insured against riots and acts of terrorism. The mandal celebrates Ganesh Chaturthi for 5 days and is hence insured for Rs 52.85 crore per day.
Fruits, vegetables, groceries, 2,224 volunteers are also covered in the insurance. Each volunteer has been insured for Rs 10 lakh. And each devotee to the GSB Seva Mandal has been insured for Rs 20 crore each.
This year, they have gone for a larger cover as they have taken it for a one kilometre radius from the pandal. This includes cover for all devotees and the deity’s ornaments against terror attacks, accidents, flooding or external damage.
The largest component of the insurance cover is ₹10 lakh for a personal accident cover and ₹22 crore cover for 80 kg of gold and 450 kg of silver.
It is to be highly noted that the premium amount would naturally run into several lakhs for such deal in the insurance sector. Moreover it is extremely profitable and huge one shot deal for a cover that is spanning just 15-30 days during the Ganeshotsav.