Center discusses insurance coverage for fisheries with stakeholders

On 29th December, the Department of Fisheries organized a National Webinar on “Insurance Coverage for Fisheries and Aquaculture”, chaired by Jatindra Nath Swain, Secretary, Department of Fisheries (DoF), in which farmers, fishermen, entrepreneurs, Fisheries unions participated. Officials of Fisheries Department, Officials of various States, Faculties of State Agricultural, Veterinary and Fisheries Universities, Fisheries Research Institutes, Fisheries Cooperative Officers, others.

Jatindra Nath Swain, said in a ministry statement, said that the fundamental issue is the lack of understanding of the concept of insurance among the stakeholders and suggested that the outreach and capacity needed to build trust to attract private and other global Construction programs should be started. Insurance player for fisheries sector.

He highlighted that most of the stakeholders seeking insurance policies are from the marine sector and informed about the Group Accident Insurance Scheme (GAIS) provided by the Department of Fisheries. Necessary legislative provisions may be incorporated in the Marine Fisheries Regulation Act (MFRA) as a first step for gradual adoption of fisheries insurance, he said.

Sagar Mehra, Joint Secretary, highlighted the coverage of fisheries insurance and aquaculture insurance policies adopted for industrial and small fishing vessels and large aquaculture operations in various countries in Asia, Africa, Europe and America.

LN Murthy, Senior Executive Director, NFDB explained about the many opportunities in this sector and emphasized on the threats posed by fishermen and fisherwomen such as danger during sea fishing, danger in culture practices etc.

He talked about the insurance products which have proved beneficial for him. He also stressed on creation of insurance products by universities and educational institutions. He said sustainability, profitability and productivity is the way forward for the fisheries sector.