Mumbai's Richest Ganesh Mandal Secures Record Insurance Cover Worth Rs 474.4 Crore
Mumbai's wealthiest Ganesh mandal, GSB Seva Mandal, has secured a record insurance cover worth Rs 474.46 crore for this season, reflecting the increased valuation of its gold and silver items and the addition of more volunteers and priests.
Ganesh MandalInsuranceGsb Seva MandalGold And SilverPublic LiabilityReal Estate MumbaiAug 17, 2025
The increase in the insurance cover is primarily due to the increased valuation of its gold and silver items, as well as the induction of more volunteers and priests. The mandal does not disclose the premium amount it paid, citing a non-disclosure agreement. The insurance policy awarded by New India Assurance includes coverage for gold and silver items, personal accident cover, fire and other perils like earthquakes, and public liability.
Of the Rs 474 crore, the all-risk insurance policy that covers gold, silver, and jewels is worth Rs 67 crore, up from Rs 43 crore in 2024 and Rs 38 crore in 2023. The largest share of Rs 375 crore is allocated to personal accident insurance, covering volunteers, priests, cooks, valets, and security guards. Standard fire and special peril cover, including earthquakes, is Rs 2 crore, unchanged from past years. Public liability worth Rs 30 crore insures pandals, stadiums, and devotees.
A sum of Rs 43 lakh is allocated for standard fire and special peril cover for the venue premises. GSB Seva Mandal chairman Amit Pai said, 'The increase in gold and silver valuation is largely responsible for the hiked amount. Volunteers and priests have been added as well.' The rate of 24 carat gold in Mumbai at Ganeshotsav 2024 was Rs 77,000 per 10 grams. Prices have since risen to Rs 1,02,000 per 10 grams. GSB's deity is adorned with 66 kg of gold ornaments and 336 kg of silver.
GSB will host its five-day Ganeshotsav from August 27 to 31. This year, the mandal has implemented changes in entry systems and introduced elevated entry for puja donors. Pai added, 'We have appointed a separate agency for crowd management.'
Frequently Asked Questions
What is the total insurance cover procured by GSB Seva Mandal this year?
GSB Seva Mandal has procured a record insurance cover worth Rs 474.46 crore this year.
Why has the insurance cover increased compared to last year?
The increase is mainly due to the higher valuation of gold and silver items and the addition of more volunteers and priests.
What does the all-risk insurance policy cover?
The all-risk insurance policy covers gold, silver, and jewels, and is worth Rs 67 crore.
What is the largest share of the insurance cover used for?
The largest share of Rs 375 crore is allocated to personal accident insurance, covering volunteers, priests, cooks, valets, and security guards.
What changes has GSB Seva Mandal implemented for this year's Ganeshotsav?
GSB Seva Mandal has implemented changes in entry systems, introduced elevated entry for puja donors, and appointed a separate agency for crowd management.
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