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GSB Seva Mandal gets Rs 224 crore cover in 2012

According to the latest news from the insurance sector, 2012 is going to witness biggest accounts at Ganeshotsav. The top officials and staffs of leading insurance companies are having their fingers crossed in this matter.

GSB King’s Circle, has immediately sought a cover of Rs 224 crore. This mandal is city’s wealthiest mandal according to the print and electronic media and survey conducted in the city. On the other hand, Lalbaugcha Raja has suddenly trebled its existing policy from Rs 14 crore to Rs 45 crore. This is a major decision taken by this mandal.

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 Ganeshutsav.  On September 19, Ganesh Chaturthi falls and on September 29, Anant Chaturdashi, the 10-day festival ends.

The spokesman of the GSB Seva Mandal at King’s Circle said, “Last year, we took a cover of Rs 220 crore. This season, the figure has risen owing to the value of gold jewellery that adorns the deity. Crossing fingers and is optimistic that the company will beat the competition. Ours may not be the lowest quote but it is the most comprehensive.

There is an all-risk cover of Rs 22.11 crore and a standard fire policy of Rs 1 crore. A public liability or third-party insurance of Rs 20 crore is included. The lion’s share of Rs 182 crore has been reserved for personal accident cover for 1,819 people, including volunteers, electricians and other labourers. That works out to roughly Rs 10 lakh per head.”

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