In the Caribbean only 3 percent of the fishing vessels are insured and less than 20 percent of the fishers have life and/or health insurance cover. Lack of insurance affects all those involved in fishing activities, as it may lead to many losses not being duly compensated when a fishing vessel owner does not have sufficient means to meet his liabilities. These losses may include fishing vessel loss or damage, loss of life or injury of crewmembers, damage to third-party property, as well as loss of life or personal injury of third parties. When these losses are not duly compensated, it creates financial and social hardship for fishers and their families.
Source: Martinez, N.A. and Van Anrooy, R. 2021. Third-party liability insurance for fishing vessels. CC4Fish Policy Brief, October 2021, issue no. 4. Rome, FAO.
Vessel Insurance Information Seminar
Come hear more about:
Regulatory changes on the horizon
Third party Liability Insurance
Comprehensive Vessel Insurance
Testimonials from boat owners
Plans for building the resilience of the fisheries sector
Speakers: Marine Insurance Specialists
Date: Tuesday, 21 November 2023
Time: 4:45 PM
Venue: Barbados Fisheries Division
Please make a special effort to attend.