Minister of Fisheries, Animal Husbandry & Dairying Shri Parashottam Rupala chaired the National Conference on Fisheries and Aquaculture Insurance in hybrid mode

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Minister of Fisheries, Animal Husbandry & Dairying Shri Parashottam Rupala chaired the National Conference on Fisheries and Aquaculture Insurance in hybrid mode today at PUSA, New Delhi. Union Minister also distributed Group Accident Insurance Scheme (GAIS) cheques to the identified beneficiaries. Secretary, DoF, Dr.Abhilaksh Likhi, Joint Secretary Shri Sagar Mehra and Ms. Neetu Kumari Prasad were also present on the occasion. In his address Shri Parashottam Rupala called upon all stakeholders to come forward with their suggestions and inputs on preparing guidelines for vessel insurance schemes. He said that Group Accident Insurance Scheme (GAIS) has been quite successful and similar success should be replicated for crop insurance and vessel insurance among fishermen community. The minister also added that issues arising out of climate change should be factored while making new schemes.Secretary, DoF, Dr. Abhilaksh Likhi in his remarks said that the department will study the successful insurance models for fishermen in other countries like Japan and Philippines and their experiences will be adapted as per local conditions. Dr. Likhi also underscored that government is promoting vessel insurance schemes from companies and a committee has been set up to work on common parameters for such schemes. He also added that schemes under crop insurance are being reviewed to remove any trust deficit with fisher community.

Recognizing the need to create awareness about safeguarding the interests of the fishers and fish farmers and to have a productive deliberation with various stakeholders in the fisheries sector, Insurance Companies, Insurance Intermediaries and Financial Institutions, the Department of Fisheries organized this National Conference. The deliberation in the event will assist in developing a broad implementation framework, collaborative effort and innovative solutions (incentives, product innovation etc.) which could make insurance packages more affordable and attractive for the fishers and aquaculture farmers.

Deliberation was also held with  Industry experts and researchers including FAO officials, Scientists from CMFRI and CIBA, representative from ICICI Lombard, Oriental Insurance Company Ltd.,Matsyafed, Kerala and The New India Assurance Co.Ltd. Farmers and Fisheries associations shared their experience related to challenges faced in availing fisheries insurance.

The conference engaged in discussions regarding the following key interventions:

  • Risk mitigation through Insurance in fisheries
  • Gaps/challenges and prospects of aquaculture & vessel Insurance in India
  • Various insurance products and their features that can be implemented in fisheries sector.
  • Indemnity based, and Index based Insurance opportunity in crop Insurance for fisheries.
  • Role of reinsurance in fisheries
  • Role of microinsurance in fisheries sector
  • Best practices for prompt claim settlement process in minimal hassle

The participants in the conference included Fish farmers and Fishers, Fisheries cooperatives and producer companies, States/UTs Government officials involved in fisheries management, Researchers & Educationists, KVKs, insurance companies and financial institution, traceability & certification service providers etc. Extended people participation from respective gram panchayats, Krishi Vigyan Kendra’s (KVKs), Fisheries universities and Colleges, States/UTs DoF officials etc. was carried out through VC (Video Conferencing). Total 300 (Physical-100 and Virtual-200) participants participate in the conference. The Conference envisions a comprehensive approach to fortify and expand the reach of insurance in fisheries sector for the benefit of the entire community.