World review of capture fisheries and aquaculture insurance 2022

Van, Anrooy R and Espinoza, Córdova F and Japp, David and Valderrama, Diego and Gopal, Karmakar K and Lengyel, Peter and Shinoj, P and Upare, Suchitra and Tietze, Uwe and Costelloe, Timothy and Zongli, Zhang (2022) World review of capture fisheries and aquaculture insurance 2022. Fisheries and Aquaculture Technical Paper, 682 . Food and Agriculture Organization of the United Nations, Rome, Rome, Italy. ISBN 978-92-5-136058-3

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    Abstract

    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.

    Item Type: Book
    Uncontrolled Keywords: capture fisheries; small-scale fisheries; aquaculture; fishing vessels; fishers; health insurance; risk assessment; risk management; policies; reports; world
    Subjects: Socio Economics and Extension
    Socio Economics and Extension > Fisheries Economics
    Socio Economics and Extension > Fisheries Extension
    Marine Fisheries > Policy
    Marine Fisheries
    Divisions: CMFRI-Kochi > Fishery Extension
    Subject Area > CMFRI > CMFRI-Kochi > Fishery Extension
    CMFRI-Kochi > Fishery Extension
    Subject Area > CMFRI-Kochi > Fishery Extension
    Depositing User: Arun Surendran
    Date Deposited: 22 Apr 2022 04:56
    Last Modified: 22 Apr 2022 04:56
    URI: http://eprints.cmfri.org.in/id/eprint/15912

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