Dahi Handi: Insurers Cover 90,000+ Govindas

'As on August 25, 94,753 Govindas have been insured.'
'This number is expected to rise further, as proposals for 5,000 to 8,000 Govindas are received daily.'

Large, boisterous festivals like Dahi Handi, Ganesh Puja and Durga Puja have millions celebrating on the streets, prompting insurers to step up coverage and costs for organisers and participants.

With festivals now getting government support, organisers are encouraged to opt for comprehensive insurance packages to safeguard their assets and participants.

Insurers have covered over 90,000 Govindas, who will form human pyramids on Dahi Handi festival on August 27.

"As on August 25, 94,753 Govindas have been insured. This number is expected to rise further, as proposals for 5,000 to 8,000 Govindas are received daily. Last year, the total insured Govindas reached 95,000," said Sachin Khanvilkar, manager at Oriental Insurance Company.

"Each participant benefits from an insurance cover of Rs 10 lakh, secured at a nominal premium of Rs 75," Khanvilkar added.

"So far, the state government and Vasai Virar Municipal Corporation have contributed nearly Rs 60 lakh (Rs 6 million) towards premiums, while mandals have taken insurance separately. Over 1,200 mandals have been insured, and we hope to reach 1,500 this year," Khanvilkar said.

T A Ramalingam, chief technical officer at Bajaj Allianz General Insurance, said the premiums collected for festival insurance had increased over threefold, rising from less than Rs 20 lakh (Rs 2 million) five years ago to over Rs 70 lakh (Rs 7 million) in FY24, with the sum insured growing by approximately 200 per cent.

"With increased awareness about such insurance, we see more business during these events. Additionally, we have revised our product offerings compared to previous years, enabling us to capture a larger market share," Ramalingam said, adding that the company expects 15-20 per cent growth in premiums for FY25 compared to the previous year.

The Maharashtra government has played a key role in providing insurance during Dahi Handi.

The government's focus on ensuring the safety of participants and the public during large-scale events has led to higher adoption of insurance policies, according to Sumit Bohra, President of the Insurance Brokers Association of India.

This has also encouraged more organisers to consider comprehensive coverage to mitigate risks associated with unforeseen incidents, Bohra said.

Insurance packages cover accidental injuries during the formation of human pyramids during Dahi Handi or risk to life during immersion of idols.

Damage of idols, mandaps, decorations, public liability and fire hazards is covered too, he said.

Insurance underwriting for Ganesh Puja that falls on September 7 will commence after Dahi Handi.

Insurers expect to see good traction in insurance for Ganesh Puja ahead of the state government elections, which is a common trend.

Feature Presentation: Ashish Narsale/Rediff.com