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GSB Seva Mandal, one of Mumbai s wealthiest Ganeshotsav organizers, has obtained an insurance policy worth Rs 360 crore from New India Assurance, an increase from their previous policy of Rs 316 crore. The rise in insurance costs is due to the increase in gold prices. The policy includes coverage for gold and silver articles, fire and special perils, public liability, and personal accident insurance for volunteers and staff.
The increased cover cost is a resultant of gold prices shot up this year which also has a direct effect on the value of jewellery that the God's idol will be adorned with