The Department of Fisheries is organizing a National Conference on Fisheries and Aquaculture Insurance slated for January 17, 2024. The conference, spearheaded by Minister Parshottam Rupala, seeks to strengthen existing structures and explore new horizons within the insurance sector.
Scheduled to be conducted in hybrid mode at PUSA, New Delhi, the conference provides a vital platform for stakeholders in the insurance sector to engage in discussions, strategizing ways to enhance access to insurance schemes, and their benefits for fishers and fish farmers.
With the primary objective of fostering dialogue among policymakers, state officials, researchers, and fish farmers, the conference anticipates over 300 participants. These contributors are expected to share insights on improving access to insurance, promoting innovation in insurance product offerings, and discussing incentives for the sector.
The insights generated during the conference are poised to address gaps in the insurance sector, including strategies for mitigating risks through insurance, expanding access to aquaculture and vessel insurances, and fostering innovation in insurance products. The event also aims to facilitate collaboration and partnerships among stakeholders in the fisheries insurance sector.
Notable participants from esteemed institutions such as the Food and Agriculture Organization (FAO), Central Marine Fisheries Research Institute (CMFRI), ICICI Lombard, and the Insurance Regulatory and Development Authority of India (IRDAI) are expected to contribute to the discussions. Additionally, industry experts, senior officials from the Department of Fisheries, and representatives from state fisheries departments will lend their expertise to the conference.
The event will shed light on initiatives under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) aimed at ensuring the safety and security of fishers and fish farmers. Notable schemes include the Group Accident Insurance Scheme (GAIS), which, since its launch in 2020-21, has enrolled 34.15 lakh fishermen from 29 States/UTs, providing coverage against accidental death or disability.
To further strengthen safety nets, a pilot scheme on Aqua Crop Insurance (ACI) has been implemented to cover losses due to adverse climatic conditions for both shrimp and fish crops. The National Fisheries Development Board (NFDB) supports ACI by assisting with insurance premiums and promoting compliance with better management practices.
This initiative underscores the government’s commitment to nation-building through holistic growth and development in the fisheries sector.
