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Workshop on Development of Aquaculture Insurance System for Small-Scale Farmers

The workshop aimed to identify policy and technical measures that would make insurance available and accessible to small-scale aquaculture farmers. Three commissioned papers and seven supplementary papers and presentations informed the discussions, which led to a set of recommendations addressed to the participating countries as well as to other developing countries and a specific follow-up activity in Thailand with a possible FAO collaborative assistance.

The workshop was a collaboration between FAO and Kasetsart University (KU) in Bangkok implemented through a Letter of Agreement with the Center for Applied Economics Research, KU. It was held at the Faculty of Economics of which comprised two days of meetings. The first, on 20 September 2016, had a regional scope that discussed the experiences in and challenges to aquaculture insurance. The participants were experts from China, the Philippines, Singapore, Thailand and Viet Nam. The second workshop, on 21 September 2016, focused on the prospects of a viable and sustainable aquaculture insurance for the shrimp aquaculture industry of Thailand. The deliberations were informed by a field study of the demand for insurance by the sector. It was joined by officers and members of shrimp farmers’ cooperatives from five provinces of Thailand and the participants of the first workshop.

The workshop attained its objectives. It also facilitated these results: (i) made farmers, farmer advisers, researchers and academics more familiar with the insurance business and technical requirements of insurers, (ii) made insurers become more familiar with the circumstances and the needs of aquaculture farmers, (iii) confirmed that insurers continue to view aquaculture as a high-risk industry, (iv) highlighted the need to incorporate risk assessment and management in the development of better farm management practices in line with the requirements of insurance, and (v) confirmed the usefulness of bundling credit and insurance in the development of institutional services for farmers.

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