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Book (series)World review of capture fisheries and aquaculture insurance 2022 2022
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No results found.This world review of capture fisheries and aquaculture insurance presents the findings of five regional and four national reports conducted in 2020. An estimated 450 000 fishing vessels worldwide are covered by marine hull insurance. Nearly all of the estimated 67 800 large-scale industrial fishing vessels are covered by marine hull insurance, as well as 50–60 percent of the estimated 430 000 semi-industrial fishing vessels. However, over 95 percent of the 2.3 million motorized small-scale fishing vessels operate uninsured. Most small-scale fishers do not have access to adequate insurance services. Between 2009 and 2019, underwriting experiences in fishing vessel insurance were generally reported as “Good”. What is more, access to accident, life and health insurance services for crew on fishing vessels and small-scale fishers in developing countries has improved in recent years. In 2020, the number of aquaculture insurance policies in force was estimated at over 40 000 worldwide, with China and Indonesia the largest markets for this type of insurance. While large-scale aquaculture producers are well served by the insurance industry, the provision of insurance is inadequate for mediumand small-scale farmers, particularly in Asia. Underwriting experiences for aquaculture stock mortality insurance were reported as “Good” to “Very good” (40 percent), or “Neutral” (36 percent). The insurance industry has consolidated the market and increased profitability in aquaculture insurance. This world review contains information on the capture fisheries and aquaculture insurance market, the prevailing underwriting practices, perils covered, policies in force, risk management and claim handling procedures. Finally, it offers a series of recommendations for increasing insurance service provision to the fisheries and aquaculture industries. -
Book (stand-alone)Report of the Expert Workshop on Guidelines for Micro-finance, Credit and Insurance for Small-scale Fisheries in Asia, Bangkok, Thailand, 7-9 May 2019
Bangkok, Thailand, 7-9 May 2019
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No results found.The Expert Workshop on Guidelines for Micro-finance, Credit and Insurance for Small-scale Fisheries in Asia was held in Bangkok, Thailand in the period 7-9 May 2019. Rural finance, insurance and fisheries experts from Bangladesh, China, India, Indonesia, Japan, Philippines, Thailand, UK, Canada and the USA met to discuss ways to improve the access to financial services for small-scale fishers in Asia. The workshop aimed to discuss successful finance and insurance programmes in Asia for small-scale fishers, finalize practical guidelines in support of better access to financial services, and design a capacity building programme for increasing the provision of finance and insurance services to small-scale fisheries. The workshop was attended by 32 experts and was organized by the Asia-Pacific Rural and Agricultural Credit Association (APRACA) in close collaboration with FAO. The insurance and credit guidelines prepared will facilitate the implementation of the Voluntary Guidelines for Securing Sustainable Small-Scale Fisheries in the Context of Poverty Eradication and Food Security (SSF Guidelines), as well as contribute towards achievement of Sustainable Development Goal 14. Access to finance and insurance services will enable the small-scale fishers to invest in more responsible fishing operations and technologies, reduce overfishing, contribute to fisheries management and implement climate change adaptation measures. The micro-finance, credit and insurance guidelines for small-scale fisheries have been endorsed by APRACA members in June 2019, and implementation throughout the Asian region is promoted. -
Book (series)Report of the FAO-DOF Workshop on the Options for a Potential Insurance Scheme for Aquaculture in Thailand. Bangkok, 24-25 September 2009. 2010
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No results found.In recognition of the important role played by the shrimp farming industry to the Thai economy, DOF 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. 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. The workshop recommended that a steering committee be established and report on the social, legal and financial feasibility of a mutual insurance company for shrimp farmers and seek technical assistance and advice from experts.
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