Mumbai’s richest Ganesh mandal, GSB Seva Mandal, has taken a record ₹474.46 crore insurance cover for Ganeshotsav 2025, driven by soaring gold prices and added staff coverage, ensuring protection for assets, people, and devotees
The GSB Seva Mandal at King’s Circle, Mumbai—widely regarded as the city’s wealthiest Ganesh mandal—has secured a record-breaking insurance cover of ₹474.46 crore for this year’s Ganeshotsav. The figure marks a sharp rise from last year’s ₹400 crore policy, largely due to the escalating value of gold and silver ornaments adorning the idol, along with extended coverage for additional priests and volunteers.
The comprehensive insurance, arranged through New India Assurance, spans multiple risks. It provides protection for the mandal’s vast collection of ornaments, accident cover for staff and volunteers, safeguards against fire and natural calamities, and public liability cover for devotees and infrastructure, according to a Times of India report.
Among the most valuable assets insured are 66 kilograms of gold and 336 kilograms of silver ornaments. These have been covered under an “all-risk” policy worth ₹67 crore, compared to ₹43 crore in 2024. The steep hike is linked to the surge in gold prices, which have risen from ₹77,000 per 10 grams last year to ₹1,02,000 this year.
The largest portion of the policy, ₹375 crore, is dedicated to personal accident insurance for volunteers, priests, security personnel, cooks, and other staff members. Another ₹30 crore has been reserved under public liability cover to safeguard pandals, stadiums, and devotees. Fire and special peril coverage, including risks such as earthquakes, remains fixed at ₹2 crore, while the venue itself has been insured under an additional ₹43 lakh policy.
Mandal chairman Amit Pai explained that the jump in the insurance value was primarily due to the higher valuation of gold and silver, coupled with the inclusion of more priests and volunteers this year. He also mentioned that details of the premium were not being shared, as a non-disclosure agreement had been signed with the insurer.
The five-day festival, scheduled from August 27 to 31, will also witness stricter crowd management measures. Pai indicated that an elevated entry system had been created for donors and that a professional agency had been brought in to oversee crowd control.