Mumbai: Growing reserves of bullion have raised the annual Ganeshotsav insurance cover sought by Ganpati mandals to record levels this season. The richest mandal in the city, GSB Seva Mandal at King's Circle, has purchased insurance cover worth Rs 300 crore. The amount is Rs 2 crore more than last year's, mainly due to the increase in silver offerings. The mandal has added a 15kg silver mandap. "Our idol is adorned with 68kg gold and 315kg silver. Our silver reserves have increased by 17kg over last year's 298kg, thanks to a large donation by one particular devotee whose wish was fulfilled. We have used that to craft a beautiful mandap for the deity," said former president R G Bhat.
Of the Rs 300 crore, Rs 25 crore covers ornaments against theft and robbery, Rs 10 crore insures against fire and earthquake, Rs 40 crore is public liability cover, while the remaining Rs 225 crore protects devotees, officials and volunteers.
The other GSB mandal at Wadala's Ram Mandir has purchased a policy worth Rs 105 crore, said president N N Pal. Andhericha Raja's cover of Rs 3.8 crore protects its gold ornaments, sets, visarjan procession, volunteers and devotees.
Lalbaugcha Raja has not only insured its own pandal for Rs 51 crore by paying a premium of Rs 13.2 lakh, but also covered immersion processions across Mumbai. "For four years, we have been insuring all Ganesh bhakts, irrespective of which mandal they belong to. This year we have purchased a Rs 15 crore cover at a premium of almost Rs 15 lakh," said former president Ashok Pawar.
Most mandals are reluctant to cite the premium given the fierce competition among insurance firms. In fact, there is a secrecy clause in certain policies that are tailormade for them.
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