Third-party liability insurance for fishing vessels
This policy brief highlights the importance of introducing compulsory third-party liability insurance for fishing vessels. The introduction of such insurance for fishing vessels in the Caribbean will contribute to improving the working conditions of fishers, their safety and responsible fishing practices. Efforts are being made to ensure that insurance services are available at reasonable premiums, thus enabling compliance by all fishing vessels. In most Caribbean countries marine insurers and insurance brokers are offering third-party liability insurance services. If this type of insurance becomes compulsory in fisheries, then insurance premiums can be reduced. FAO is assisting governments in the legislative enactments that may be necessary for the introduction of this insurance requirement. Fisherfolk generally embrace this development and can be assured that the introduction of compulsory third-party liability insurance for fishing vessels will benefit the whole fishing industry.
For more information on third-party liability insurance in fisheries, please see also: Compulsory insurance (third party liability) requirements for fishing vessels: a case for the introduction of compulsory fishing vessel insurance in the Caribbean