Insurance Latest English news | Insurance Online News in English at Lokmattimes.com

GSB Seva Mandal at King’s Circle, regarded as Mumbai’s wealthiest Ganesh mandal, has secured a record-breaking insurance policy worth ₹474.46 crore for its upcoming Ganeshotsav. The coverage surpasses last year’s policy of ₹400 crore, with the increase mainly linked to the rising value of gold and silver ornaments adorning the deity and the inclusion of more priests and volunteers under the scheme. The comprehensive all-risk insurance has been issued by New India Assurance, providing protection against multiple risks such as fire, earthquakes, accidents, precious ornaments, and public liability during the five-day celebrations.The largest segment of the insurance package is personal accident cover valued at ₹375 crore, which provides protection for priests, volunteers, cooks, attendants, and security personnel involved in the festivities. Public liability insurance of ₹30 crore has been allocated to safeguard devotees, stadiums, and pandals, while the standard fire and special risk cover for the venue has been fixed at ₹43 lakh. In addition, fire and earthquake risks remain insured for ₹2 crore, a figure that has remained unchanged compared to previous years.Also Read: Elvish Yadav House Firing: Main Accused Shot in Leg, Arrested by PoliceThe 2025 policy reflects a significant surge in insurance premiums, especially for ornaments. The all-risk coverage for gold and silver alone has been insured for ₹67 crore, as against ₹43 crore in 2024 and ₹38 crore in 2023. GSB Seva Mandal president Amit Pai explained that the higher valuation of gold and silver, coupled with the inclusion of priests and volunteers under the policy, accounted for the jump in figures. Rising gold prices also contributed, with rates escalating from ₹77,000 per 10 grams in 2024 to ₹1,02,000 this year.The GSB deity is set to be adorned with 66 kilograms of gold ornaments and 336 kilograms of silver during the celebrations, underscoring the scale of opulence and the necessity of securing extensive coverage. The Ganeshotsav, which will take place from August 27 to 31, will also witness enhanced management measures. Organisers have made wider entry arrangements for donors, while a professional agency has been engaged to handle crowd control, officials confirmed, ensuring smooth and safe celebrations amid the expected surge in devotees.

Insurance, NewsFOLLOW

Insurance, Latest News

Medical expenses are getting higher every year, and this can create big problems for families during health emergencies. Medical ... ...

City riders often believe that claim situations happen only after major accidents. In reality, daily traffic, tight parking, poor ... ...

Buying insurance for a new car is one of the first and most important steps after bringing it home. ... ...

Travel plans often begin with excitement and a long checklist that feels satisfying to complete. Flights get booked, hotels ... ...

A shocking incident surfaced from Maharashtra’s Latur district on December 14 when a car was found completely burnt, with ... ...

Every year, the festival of Diwali is celebrated with fireworks and enthusiasm, but this period also witnesses incidents of ... ...

India’s elderly population aged 60 is currently over 153 million and is expected to reach 347 million by 2050. ... ...

GSB Seva Mandal at King’s Circle, regarded as Mumbai’s wealthiest Ganesh mandal, has secured a record-breaking insurance policy worth ... ...