FAO Fisheries and Aquaculture Report No. 941 FAO Fisheries and Aquaculture Report No. 941
FIRO/R941 (En)

 

Report of the
FAODOF WORKSHOP ON THE OPTIONS FOR A POTENTIAL INSURANCE
SCHEME FOR AQUACULTURE IN THAILAND

Bangkok, 2425 September 2009


FOOD AND AGRICULTURE ORGANIZATION OF THE UNITED NATIONS
Rome, 2010

 
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ISBN 978-92-5-106633-1

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FAO. Report of the FAODOF Workshop on the Options for a Potential Insurance Scheme for Aquaculture in Thailand. Bangkok, 2425 September 2009.
FAO Fisheries and Aquaculture Report. No. 941. Rome, FAO. 2010. 132p.

ABSTRACT

In recognition of the important role played by the shrimp farming industry to the Thai economy, the Department of Fisheries of Thailand and FAO conducted a joint workshop to provide stakeholders with a detailed overview of the benefits of, and requirements for, a successful establishment of a mutual insurance scheme that responds to the needs of the Thai shrimp farming industry and meets overall objectives of the Royal Thai Government. The Workshop recognized the need for and supported the establishment of a mutual for the Thai shrimp farming industry and identified the following risks to be part of an insurance solution, among others: natural perils damaging the stock, diseases, other perils such as theft and mechanical failure, and price fluctuations. The mutual should include small- and medium-scale shrimp farmers as well as other groups such as local feed distributors and hatchery operators. The Workshop recommended that the basis of insurance should be cost incurred. There was general consensus regarding the need for a mutual as a good insurance solution for the Thai shrimp farming industry, but an issue was raised regarding the existence of a legal framework under which a mutual can operate. In this regard, it was felt that Government assistance would be required to provide the appropriate solution.



CONTENTS

Part I  (Download pdf284kb)    Part II  (Download pdf1.1Mb)    Part III  (Download pdf1.4Mb)


Report of the FAODOF Workshop on the Options for a Potential Insurance Scheme
for Aquaculture in Thailand.

1.   INTRODUCTION
2.   OPENING OF THE WORKSHOP
3.   WORKSHOP BACKGROUND AND OBJECTIVES
4.   PRESENTATIONS
4.1    Shrimp farming industry: risk or aquaculture insurance?
4.2    A hybrid approach to insurance
4.3    International aquaculture loss experience
4.4    The international reinsurance market
4.5    Introduction to mutuals and mutualization
4.6    Mutual structure
4.7    Reinsuring mutuals
4.8    The concept of creating a superior risk pool
4.9    Mutual company start-up and operational procedures, Part One
4.10   Summing-up of Day 1
4.11   Mutual company start-up and operational procedures, Part Two
4.12   Aquaculture claims
4.13  Reinsurance limits and the role of government

5.   WORKING GROUP SESSION
6.   WORKSHOP CONCLUSIONS
7.   RECOMMENDATIONS FOR THE ROYAL GOVERNMENT OF THAILAND

APPENDIXES

A   Workshop agenda
B    List of participants
C    The hybrid concept in aquaculture insurance by Philip A.D. Secretan
D    International aquaculture loss experience by Mark Vos
E    International reinsurance market by Erich Kasten
F    Introduction to mutuality by Paul Koronka
G    Mutual insurance structure by Paul Koronka
H    Reinsuring mutual insurance companies by Erich Kasten
I    The concept of creating a superior risk pool by Mark Vos
J    Mutual company start-up by Paul Koronka
K    Aquaculture claims by Mark Vos
L    Reinsurance limits and the role of government by Erich Kasten


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