INDIA, November 23, 2006: Temples, with substantial revenues, are becoming attractive propositions for insurers, with sizable premiums and lower claims. Sabarimala is the latest example where the Travancore Devaswom Board (TDB) has opted for an insurance cover with a sum assured of US$22,426,500, paying a premium of US$33,000. The attraction for the TDB is that the package covers the temple, devotees and all its 4,750 employees, while for United India Insurance Company, it is an additional client with great potential for the future. United India Insurance has also provided cover for the equally popular Guruvayur temple in Kerala, with a package that includes US$19,735,000 cover for the temple employees and 63 elephants and an additional cover of US$12,335,000 for burglary.
In Sabarimala, the insurance package covers devotees against accidental deaths with a payment of US$2,242. “We have gone for a comprehensive insurance package, which covers all accidents and losses not only at all temple structures at Sabarimala, but also at Pampa and Nilackal,” says TDB Commissioner C.G. Sachidanandan. Significantly, the package does not cover death due to heart attack while climbing, which is common during the trek to the hill shrine, but does cover death from stampede, which has happened in the past. The temple insurance also covers possible terrorist attacks.