Union Minister Seeks Suggestions for Vessel Insurance Guidelines

Union Minister Parshottam Rupala has urged all stakeholders to come forward with their suggestions and inputs for preparing guidelines on vessel insurance schemes. Addressing a conference on aquaculture and vessel insurance in New Delhi, the Minister of Fisheries, Animal Husbandry, and Dairying highlighted the success of the Group Accident Insurance Scheme (GAIS) and emphasized the need to replicate its success in crop insurance and vessel insurance among the fishermen community.

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GAIS Success and Climate Change Considerations

Minister Rupala lauded the success of GAIS and called for similar achievements in crop insurance and vessel insurance. He also stressed the importance of factoring in climate change issues while developing new schemes, recognizing the impact of climate change on the fishing industry.

GAIS Cheques Distributed

During the conference, Minister Rupala distributed GAIS cheques to identified beneficiaries, demonstrating the government's commitment to supporting the fishing community.

Learning from International Models

Fisheries Secretary Abhilaksh Likhi shared insights on studying successful insurance models for fishermen in countries like Japan and the Philippines. He emphasized adapting these experiences to suit local conditions, ensuring effective implementation of vessel insurance schemes.

Committee for Common Parameters

Secretary Likhi highlighted the government's efforts in promoting vessel insurance schemes from companies. He mentioned the establishment of a committee to work on developing common parameters for such schemes, ensuring consistency and transparency.

Review of Crop Insurance Schemes

Recognizing the need to address trust deficits, Secretary Likhi stated that the government is reviewing crop insurance schemes to remove any issues that may hinder their acceptance among the fisher community.

GAIS: A Success Story

Secretary Likhi acknowledged GAIS as the oldest and most successful scheme under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). He commended its positive impact on the fishing community.

Stakeholder Participation

The conference brought together various stakeholders in the fisheries sector, including insurance companies, insurance intermediaries, and financial institutions. Representatives from ICICI Lombard, Oriental Insurance Company Ltd, Kerala-based Matsyafed, and The New India Assurance Co Ltd were among the participants, contributing their expertise and insights to the discussions.

The conference on aquaculture and vessel insurance served as a platform for stakeholders to engage in constructive dialogue and provide valuable input for developing effective vessel insurance schemes. By seeking suggestions and incorporating international best practices, the government aims to enhance support for the fishing community and promote sustainable growth in the fisheries sector.