Mumbai’s richest Ganesh mandal takes Rs 265 crore insurance cover

MUMBAI: The wealthiest Ganesh mandal in Mumbai —King’s Circle’s GSB Seva Mandal—has taken an insurance policy worth almost Rs 264.8 crore this season. This is marginally higher than last year’s policy of Rs 264.3 crore, yet it is short of the record Rs 300 crore insurance sought in 2016.

Committee member RG Bhat said, “There are several components to the policy. An all-risk cover of Rs 19 crore factors gold, silver and cash, in transit as well. The standard fire and special peril component of Rs 1 crore includes earthquake and electric shock. Public liability covers the exhibition area and pandals for Rs 20 crore. We have 2,244 workers, members and volunteers who receive personal accident cover of Rs 10 lakh each. We also have a standard peril policy of Rs 35 lakh. ”