Event

The global fishing fleet includes over 4 million vessels, with 2 million small-scale motorized vessels (<12 m in length) that play a crucial role in the livelihoods of coastal communities. However, only about 5 percent of these vessels are currently insured, despite a significant demand for insurance services that far exceeds the supply. Recognizing this gap, the FAO, supported by the Lloyd’s Register Foundation, has initiated a project to develop Guidelines for the Inspection and Valuation of Small-Scale Fishing Vessels (MTF/GLO/1161/LRF).

This workshop will discuss the availability of insurance services for small-scale fishers, particularly in developing countries. By establishing clear guidelines for seaworthiness, safety inspection, and vessel valuation, the project seeks to facilitate better insurance coverage, thereby increasing the resilience of these communities against accidents at sea, natural disasters, and the impacts of climate change.

The discussions are expected to provide guidelines for a stronger safety net, allowing small-scale fishers to invest in their businesses with greater confidence and stability.

• Language English
• Keywords Insurance, small-scale fisheries (SSF), Fishery