With Navratri festive season starting, many organizers have taken insurance claim to cover loss against any unforeseen events occurring. In one such case, Future Generali, who insures for films, TV serials and various events, has entered into a contract with Falugni Pathak’s Ta Thaiya Group – organized by Mangal Entertainment Private Limited to cover the insurance claim occurring on behalf of cancellation due to various reasons, terrorism and non appearance of various performers on account of accident or critical illness.
Though the exact premium amount has not been disclosed by the company, industry experts believe that the premium amount ranges from 0.30% to 0.65% of the insured value, depending upon various factors such as geographical locations, type of event and insured amount etc.
In addition to insuring Falguni pathak’s Ta Thaiya Group, Future Generali has also bagged an insurance contract from Samaj’s Versatile Navratri 2013, which is a competitor of Falguni Pathak’s group.
Mr. Easwara Narayanan, Chief Operating Officer of Future Generali said that, festival celebration assuming a different dimension associated with large number of people, various celebrities and grand scale event the risk involved with this cannot be ignored and this is being clearly understood by the organizer. More and more festival pandals are taking insurance coverage against any unforeseen event.