Despite 1.4 crore people associated with fisheries for their livelihood in the country, no insurance policy exists for the risks such as large scale decline in stock of fish species, damage of sea cages, loss of fish crops and damage to farm structures among others. "Accident risks of marine fishermen too have a fair coverage in the southern States of Kerala and Tamil Nadu unlike other States," a study by the Central Marine Fisheries Research Institute (CMFRI) has found. The study was conducted in 14 fishing centres in Kerala, Tamil Nadu, Andhra Pradesh, Gujarat and Odisha and among the fish farmers in Kerala and Tamil Nadu.
Exposing the pathetic situation in the fisheries sector, the study found that the provision for vessel insurance, gear insurance and coastal asset insurance was quite low, with only one case of gear insurance reported from Kerala and a meagre 14 per cent of fishermen from Tamil Nadu having reported enrolment to coastal asset insurance. Insurance coverage of income risks owing to decline of fish stocks and price risks due to market price fluctuations were not reported by any of the respondents of the survey.
The study also found that vessel insurance is minimal compared to accident insurance. The adoption of vessel insurance in three southern States (Kerala, Tamil Nadu and Andhra Pradesh) was found very low, except in Alappuzha district in Kerala where 50 per cent of the participants of the survey responded in the affirmative. However, the adoption of personal or group accident insurance is fairly high in Kerala with 80 per cent or more of the respondents from the four selected districts in the State having enrolled in the scheme.
India is the second largest producer of fisheries in the world after China. The total fish production in the country has reached at about 11.41 million tonnes in 2016-17. As per data, about 1.5 crore people in the country are employed in the fisheries sector for their livelihood. The overall fish production has registered an increase of about 18.86 per cent in comparison to the last three years, whereas inland fish production has registered a growth of more than 26 per cent. India has a fleet of 2.48 lakh fishing vessels, and the country has exported fish products amounting to $5.78 billion (Rs 37,871 crore) during 2016-17, which is the highest export from the country so far. Globally, the value of export of annual fish products ranges from 85 to 90 billion dollars.
The study found that none of the sample farmers who are involved in freshwater/brackish water aquaculture in Kerala and Tamil Nadu have opted for any sort of insurance coverage against common risks in the
sector. It revealed lack of awareness among the fishing community about the need and benefits of insurance scheme is one of the major reasons behind the situation.