Business

What INR400 crore cover for Mumbai’s richest Ganpati means for the future of event insurance

The event insurance market in India is expanding and is valued at around INR90 crore. This year, GSB Seva Mandal set a record with INR400.58 crore in coverage for the five-day festival, highlighting the need for comprehensive protection due to valuable assets, large crowds, and associated risks.

Lord Ganesha, who demolishes all our obstacles, needs protection to ensure the smooth execution of the 10-day annual festival that began on Saturday, September 7, 2024. This year, the Gaud Saraswat Brahmin (GSB) Seva Mandal at King’s Circle, Mumbai’s richest Ganesh mandal, has procured a record-breaking insurance coverage of INR400.58 crore for its five-day festival from September 7 to 11.

Mumbai is home to over 2,000 sarvajanik Ganpati mandals..