Fishery and aquaculture insurance in China
2017
Yuan Xinhua | Tipparat Pongthanapanich | Zhang Zongli | Jing Xiaojun | Ming Junchao
This paper reviews the history, organization and implementation mechanisms, policy development and innovations in fisheries and aquaculture insurance in China. With 25 years of practice, fisheries insurance in China has contributed significantly to risk management. It provides compensation for economic loss, life loss and medical expenses of injury, particularly heavy economic loss caused by disasters. The cases studies are of those of capture fishery mutual and finfish, crab, shrimp and seaweed farming. The development status, insurance scheme and performance evaluation are documented. The pilot programmes received technical support from professional associations and cooperatives, as well as professional service from commercial insurance companies. Aquaculture insurance will take some time to satisfy the increasing demand of marine and freshwater aquaculture farmers. Suggestions on legal, organization, mechanism in catastrophe relief, and mutual insurance operation were provided.
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