Tally's scheme of Complete peace of mind offer is still there and its in ending phase. It is note worthy that Tally has launched its scheme of offering Rs. 5Lac insurance to all those Tally softwares which a activated or registered between Aug 15 th Nov 15, 2006. In alliance with TATA -AIG general insurance Tally is offering Insurance cover of Rs. 5 lac to Tally customer.
The bifurcation of insurance is as follows :-
Rs. 2,00,000 for Standard Fire & Special Perils for Building & Contents
Rs. 2,00,000 for Burglary & House Breaking Perils for Contents
Rs. 1,00,000 for Burglary & House Breaking for Cash in Safe

You can more details about scheme at this Link.
If you have any enquiry regarding scheme then you can fill this form
If you are already a user then you can get your product activated and registered Here.

Update :
You get greater details of Insurance coverage and further guidelines from Tata's web page. This page describes the scheme at greater details.