Friday, May 6, 2022
CAFI SSF Network participated in the symposium on International Symposium on Insulating Marine Fisheries Sector in South Asia from Uncertainties: Global Experiences with Insurance, Chennai, India, organized by Bay of Bengal Programme Inter-Governmental Organisation (BOBP-IGO). The objectives of the symposium were to
- i) understand the status of insurance in the fisheries sector in South Asia and, ii) promote cross learning and collaboration in climate risk insurance research.
A talk was delivered and presented on “World Review of Capture Fisheries insurance” particularly focused on Asia marine fisheries insurance scenario, discussing about five countries Bangladesh, Japan, Vietnam, Indonesia and (the) Philippines. The sessions centered around global developments in insurance and emerging challenges and the need to consider the capability of vulnerable and marginalized small-scale fishers(SSF) while designing suitable insurance products and services.
The symposium highlighted the special case of the small-scale and artisanal fishers, growing physical and transition risks the sector is subjected to due to climate change and possibility of parametric insurance to adapt and mitigate climate change impact. Country representatives from Sri Lanka, Maldives, India, Bangladesh, and Thailand presented their experiences and plans for mitigating the risks of marine fishers. and highlighted the need of insurance while acknowledging that penetration of insurance remains low in the sector despite various developments.
The details on symposium agenda and presentation can be accessed in this page.