Insurance coverage under-utilised in fisheries sector: CMFRI study The Hindu Business Line dated 13th November 2017

CMFRI, Library (2017) Insurance coverage under-utilised in fisheries sector: CMFRI study The Hindu Business Line dated 13th November 2017. The Hindu Business Line.

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Abstract

Shedding light on the alarming situation prevailing in the country’s fisheries sector, a study by the Central Marine Fisheries Research Institute (CMFRI) reveals that insurance remains under-utilised in fisheries compared to other agriculture sub-sectors. The fisheries sector has received little attention either at the Central or State levels except for the presence of a few public insurance companies and co-operative bodies at the local level with limited scale of activity. Apart from accident risks of fishermen, the other major risks involved in the sector such as loss of, or damage to, fishing vessels and gear, and damage to assets of fishermen are covered only on a limited scale across the country, including Kerala. Moreover, o insurance policy is available for such risks as the large-scale decline in the stock of fish species, damage of sea cages, loss of fish crops, damage to farm structures, etc. But there is fair covergae for accident risks of fishermen in Kerala and Tamil Nadu unlike other States.

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