MUMBAI: GSB Seva Mandal at King’s Circle, the richest Ganesh mandal in the city, has procured record-breaking insurance of Rs 400.58 crore for its five-day festival spanning Sept 7-11. The policy was issued by its regular insurer New India Assurance, although the mandal did not disclose the premium paid.
The GSB MahaGanpati is adorned with 66 kg of gold ornaments and 325 kg silver and other precious items.
Mandal chairman Amit Pai gave the break-up of the insurance amount. He said, “Of Rs 400.58 crore, the largest component of Rs 325 crore involves personal accident cover for volunteers, cooks, service personnel, valet parking and security staff, and stall workers. Rs 43.15 crores is an all risk policy that covers a variety of risks including (theft of) gold, silver and jewellery. Another Rs 2 crore is standard fire and special peril policy with earthquake risk covering items like furniture, fixtures and fittings, installations like computers, CCTV cameras, QR scanners, utensils, grocery, fruits and vegetables. Rs 30 crore is public liability cover for pandals, stadiums and devotees. And Rs 43 lakh involves standard fire and special peril policy for the venue premises.”
GSB Seva Mandal is celebrating its 70th annual Ganeshotsav this year. The idol will be unveiled Sept 5.
In 2023, the mandal had taken an insurance cover of a record Rs 360.40 crore.
Its South Indian style picturesque idol is made of shadu mati (clay) and grass. Amit Pai said the mandal performs pujas, annadaan and seva around the clock. On average 60,000 pujas are offered through these five days. He said approximately 20,000 people per day and 1,00,000 people over five days partake of annadaan meals, which is prasad bhojan served on banana leaf.
Lalbaugcha Raja meanwhile has secured insurance worth Rs 32.76 crore, also from New India Assurance. Lalbaug’s celebration lasts a full 10 days unlike GSB which is five days. Treasurer Mangesh Dalvi offered the break-up of their policy. The largest segment of Rs 12 crore is personal accident cover for mandal workers, trustees and service personnel who have been given an identity card by the mandal. Another 10 crore is third party liability including poisoning by prasad while Rs 2.5 crore covers set, property and electrical fittings of the pandal including main gate. Rs 8.26 crore insurance has been devised for the gold jewellery and valuables adorning the idol. Lalbaugcha Raja’s policy spans a two-month period from Aug 12 to Oct 11.
