Webinar

CAFI SSF Network – Webinar Talk Series

FAST-TRACKING INSURANCE FOR SMALL FISHING VESSELS:

AN INNOVATIVE APPROACH

Wednesday,  22 April 2026

8:30 AM Rome | 9:30 AM Nairobi, Addis Ababa | 12:00 PM Delhi | 1:30 PM Bangkok

3:30 PM Seoul, Tokyo

 

Background note

Marine insurance has long safeguarded the world’s cargoes, vessel hulls, and ports. However, one of the largest ocean-dependent sectors remains underinsured: small-scale fisheries (SSF). These fisheries support over 90 percent of the world’s capture fishers and fish workers and annually produce some 37 million tonnes of fish.  Most of the 2.6 million motorized small fishing vessels (of <12 m length overall) and their operations are not insured, as only some 5 percent of these small fishing vessels are covered by insurance. For insurers and brokers, this presents not just a protection gap—but a business opportunity.

SSF covers a vast spectrum of fishing practices, from commercial to subsistence, with a wide range of characteristics. The common challenges of SSF include economic uncertainty stemming from fluctuating fish catches and market prices, and safety risks arising from unsafe vessels and limited safety training. Hazards at sea are increasing for SSF because of climate change, related extreme weather events, and less predictable sea conditions. Insufficient access to financial tools such as credit and insurance also reduces the capacity of fishers and their communities to prevent, cope with, and recover from the hazards involved in fishing.

FAO assessed the gaps in the supply of insurance services to small-scale fishers in close collaboration with the Asia Pacific Rural and Agricultural Credit Association (APRACA) and the African Rural and Agricultural Credit Association (AFRACA) in the Asian and African regions. The Global Network for capacity building to increase access of small-scale fisheries to financial services (CAFI SSF Network) identified, together with insurers and brokers, some solutions to remove barriers for the supply of insurance services to small-scale fisheries sector. FAO recently published two technical guidelines, which are designed to build a new risk management framework for insuring small-scale fisheries sector.

• Guidelines for insurance value and risk assessment of small fishing vessels
• Guidelines for the seaworthiness and safety inspection of small fishing vessels

These guidelines offer practical tools to assess, document and improve fishing vessel conditions and standardize their valuation—critical components enabling insurability.

A fast-track approach to fishing vessel insurance application will be demonstrated and promoted, based on best  practices from several countries. The guidelines help manage risks involved in insuring small fishing vessels and bridge the information gap that has often excluded small-scale fishers from services by marine insurers.

With a global momentum for inclusive insurance and sustainable blue economies, forward-looking insurers have a unique chance to expand their portfolios while supporting resilience at the ocean’s frontline. Beyond its positive financial returns, as fisheries insurance has proven to be generally profitable, offering protection to small-scale fishers aligns with ESG objectives, marine stewardship, and the United Nations Sustainable Development Goals. These guidelines complement the 2015 Voluntary Guidelines for Securing Sustainable Small‑Scale Fisheries in the Context of Food Security and Poverty Eradication (SSF Guidelines). They also support the implementation of the 1995 FAO Code of Conduct for Responsible Fisheries and contribute to the achievement of the United Nations Sustainable Development Goals (SDGs), particularly SDG 8 (Decent Work and Economic Growth), SDG 13 (Climate Action) and SDG 14 (Life below Water).

This webinar is aimed at: Insurance and re-insurance companies, insurance regulators, maritime officers, vessel safety inspectors, surveyors, brokers, valuators, loss assessors, naval architects, boat-builders, fishers, fisheries associations, fisheries technology institutions, financial institutions, non-profit organisations and policymakers.  However, everyone interested is invited to join!

Please join us in this webinar!

You may RSVP to CAFI-SSF coordinator: cafi-ssf@fao.org

Programme Agenda

Event: FAST-TRACKING INSURANCE FOR SMALL FISHING VESSELS: AN INNOVATIVE APPROACH

Date:                       Tuesday, 22 April, 2026
Time:                       8:30 – 10:00 am Rome time
Duration:              1 hour 30 minutes

CAFI SSF Network LinkedIn:

https://www.linkedin.com/in/cafi-ssf-network-388253191/recent-activity/all/

• Region Global
• Language English
• Keywords FAO- CAFI SSF Network Webinar Talk Series