Mumbai's richest Ganesh mandal takes ₹474 crore insurance cover

The GSB Seva Mandal, known as the richest Ganesh mandal of Mumbai, has purchased a record insurance cover of ₹474.4 crore this year.

- AATHIRA VARIER

The rise in cover is attributed to the increased value of gold and silver ornaments adorning the Ganesh idol, as well as a larger number of volunteers. Last year, the mandal had taken an insurance policy worth ₹400 crore.

State-owned New India Assurance has provided insurance cover to the mandal, offering all-risk cover, standard fire and special peril policy with earthquake risk cover, public liability, and personal accident covering volunteers and others.

Of the ₹474.4 crore insurance cover, the largest component—₹375 crore—has been allocated towards personal accident cover for volunteers, including achaks, cooks, gadis, chappal stall workers, valet parking staff, and security guards. This is followed by ₹67 crore covering the gold and silver jewellery along with other associated risks.