These Guidelines for increasing access of small-scale fisheries to insurance services in Asia have been developed to support the implementation of the Voluntary Guidelines for Securing Sustainable Small-Scale Fisheries in the Context of Food Security and Poverty Eradication (SSF Guidelines). The purpose of these Guidelines is fourfold, i.e. • to increase awareness about the needs of small-scale fishers for better risk management, disaster preparedness and insurance services; • to guide policy and decision makers to help introduce insurance services to small-scale fishers, with the ultimate objective to strengthen the sustainability and ecological and economic viability of these fisheries; • to build capacity among insurance providers, fisherfolk organizations, NGOs, and concerned government agencies, to design and implement insurance programmes that suit the needs of small-scale fishing communities and enhance social protection; • to promote insurance services that incentivize and reward a responsible and sustainable conduct of fishing operations and a better preparedness for natural disasters including climate change related challenges. These Guidelines commence by elaborating on the context and framework, in which insurance programmes for small-scale fisheries should be conceived. It is explained why most small-scale fishers are presently not insured. Major risks and consequences faced by fishers are identified. Risks include capsizing, grounding, collision and sinking of vessels; fire on board of vessels or in port; injury or death of crew as a result of above, human errors during navigation or fishing operations; oil spills or other pollution caused by fishing vessels; theft and vandalism, when moored in port; piracy

The Expert Workshop on Guidelines for Micro-finance, Credit and Insurance for Small-scale Fisheries in Asia was held in Bangkok, Thailand in the period 7-9 May 2019. Rural finance, insurance and fisheries experts from Bangladesh, China, India, Indonesia, Japan, Philippines, Thailand, UK, Canada and the USA met to discuss ways to improve the access to financial services for small-scale fishers in Asia. The workshop aimed to discuss successful finance and insurance programmes in Asia for small-scale fishers, finalize practical guidelines in support of better access to financial services, and design a capacity building programme for increasing the provision of finance and insurance services to small-scale fisheries. The workshop was attended by 32 experts and was organized by the Asia-Pacific Rural and Agricultural Credit Association (APRACA) in close collaboration with FAO. The insurance and credit guidelines prepared will facilitate the implementation of the Voluntary Guidelines for Securing Sustainable Small-Scale Fisheries in the Context of Poverty Eradication and Food Security (SSF Guidelines), as well as contribute towards achievement of Sustainable Development Goal 14. Access to finance and insurance services will enable the small-scale fishers to invest in more responsible fishing operations and technologies, reduce overfishing, contribute to fisheries management and implement climate change adaptation measures. The micro-finance, credit and insurance guidelines for small-scale fisheries have been endorsed by APRACA members in June 2019, and implementation throughout the Asian region is promoted.

This world review of capture fisheries and aquaculture insurance presents the findings of five regional and four national reports conducted in 2020. An estimated 450 000 fishing vessels worldwide are covered by marine hull insurance. Nearly all of the estimated 67 800 large-scale industrial fishing vessels are covered by marine hull insurance, as well as 50–60 percent of the estimated 430 000 semi-industrial fishing vessels. However, over 95 percent of the 2.3 million motorized small-scale fishing vessels operate uninsured. Most small-scale fishers do not have access to adequate insurance services. Between 2009 and 2019, underwriting experiences in fishing vessel insurance were generally reported as “Good”. What is more, access to accident, life and health insurance services for crew on fishing vessels and small-scale fishers in developing countries has improved in recent years. In 2020, the number of aquaculture insurance policies in force was estimated at over 40 000 worldwide, with China and Indonesia the largest markets for this type of insurance. While large-scale aquaculture producers are well served by the insurance industry, the provision of insurance is inadequate for mediumand small-scale farmers, particularly in Asia. Underwriting experiences for aquaculture stock mortality insurance were reported as “Good” to “Very good” (40 percent), or “Neutral” (36 percent). The insurance industry has consolidated the market and increased profitability in aquaculture insurance. This world review contains information on the capture fisheries and aquaculture insurance market, the prevailing underwriting practices, perils covered, policies in force, risk management and claim handling procedures. Finally, it offers a series of recommendations for increasing insurance service provision to the fisheries and aquaculture industries.

This policy brief summarizes the findings of surveys among financial and insurance providers, fishers and fisherfolk organizations in the Philippines in 2021. It explains why financial services are important for small-scale fishers (SSF) and provides recommendations for improving their access to finance and insurance. SSF make an important contribution to food security and the rural economy. The average income of most SSF is below the poverty line of USD 2 500/year. For economic growth and sustainable fishing operations SSF need access to financial and insurance services. Less than 50 percent of the SSF have access to financial services. Only 30 percent of SSF have a savings account at a bank. Many financial and insurance service providers in the Philippines are willing to provide their services to SSF. However, financial institutions find it hard to supply credit to SSF, because of the seasonality of the fishing business, lack of insurance of fishing vessels, and limited technical knowledge about fisheries within their institutions. Digital finance tools are required to deliver credit more efficiently to SSF. Fisheries organizations and financial institutions have a joint interest to increase financial literacy, and enhance business planning and record keeping skills of SSF.

The Asia Regional Workshop on SDG 14.b and Its Associated Indicator 14.b.1 was organized to: (i) Raise awareness about SDG 14.b and the proposed indicator 14.b.1; (ii) Explore the indicator methodology and related issues on data and information sources, analysis, reporting and validation; this included the use of the e-learning platform specifically created for this proposed indicator; (iii) Share experiences and lessons learned regarding the reporting and validation process and identify reasons for non-reporting and non-validation; and (iv) Identify capacity development needs in relation to reporting and validation on SDG 14.b. The workshop was attended by approximately 60 participants from countries in South and Southeast Asia, invited panellists and FAO officers from Bangkok and Rome. Participating countries constituted Bangladesh, Cambodia, India, Indonesia, Lao People’s Democratic Republic (the), Malaysia, Maldives, Philippines (the), Sri Lanka, Thailand and Viet Nam.

The Food and Agriculture Organization of the United Nations (FAO) works towards ending hunger and poverty while using precious natural resources sustainably. The fisheries and aquaculture sector makes substantial contributions to food security, livelihoods and global trade. Global production of fish and other aquatic animals continued to grow and reached 179 million tonnes in 2018, and about 59.5 million people were engaged in the primary sector of capture fisheries and aquaculture. Fishery net exports generate significantly more revenue for developing countries than other agricultural commodities such as rice, coffee and tea. Millions of people are struggling to maintain reasonable livelihoods through the fisheries and aquaculture sector. These are the people who are the most vulnerable to the impacts of climate change. Climate change adds to the many threats and obstacles that already confront them in their day-to-day lives. Particular attention must be given to the most vulnerable if the sector is to continue to contribute to meeting global goals of poverty reduction and food security. This publication presents FAO’s work on climate change and fisheries and aquaculture. It includes examples of FAO’s support to countries so that they are better able to adapt to the impact of climate change in the fisheries and aquaculture sector. It also brings together FAO’s most up-to-date knowledge on climate change, including a portfolio of adaptation tools and measures used to support countries’ climate commitments and action plans.

This circular summarizes the findings of an FAO assessment of legal frameworks in five Caribbean countries (Barbados, Dominica, Saint Kitts and Nevis, Saint Vincent and the Grenadines and Trinidad and Tobago) in terms of entry points for introducing fishing vessel insurance. It also contains an overview of international conventions governing marine insurance and examples of mandatory fishing vessel insurance legislation from selected countries. The origins of compulsory third party liability insurance in the maritime industry and its introduction in international instruments (e.g. the Bunkers Convention, the Wreck Removal Convention, and the EU Directive 2009/20/EC) are discussed. The benefits of introducing compulsory third party liability insurance for everyone involved in the fisheries industry (claimants, shipowners, and society in general) in line with those in the merchant shipping industry are presented. Model regulations to facilitate introduction of compulsory third party liability insurance for fishing vessels are provided, as well as information to support fishers’ awareness raising and capacity building on this subject. This circular also contains the proceedings of a Stakeholder Meeting on Fisheries Insurance Legislative Frameworks for the Caribbean, held on 15 November 2019 in Barbados, where the assessment findings, best-practices and model regulations were presented. The circular makes a case for introduction of compulsory third party liability insurance for fishing vessels in the Caribbean, and claims that such insurance contributes to improving the working conditions of fishers, their safety and to responsible fishing practices.