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Thursday, 24 June 2021 20:40

Minister Green launches insurance coverage for fishing vessels Featured

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Minister Green launches insurance coverage for fishing vessels Photo: CRFM (2019)

Thursday, 24 June 2021 (Jamaica Ministry of Agriculture and Fisheries)  For the first time, Jamaica’s 26,000 registered fishers will have access to insurance coverage for their vessels, engines and other equipment with the launch of the Safety Net insurance policy provided by Advantage General Insurance Company.

“This Advantage Safety Net policy is the first of its kind. It is the first [time] that artisanal fishers will be able to go into an insurance company to take out an insurance policy to protect their fishing vessels,” said Green.

 

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Minister Green (left) at the unveiling of the Safety Net policy for fishers

 

Speaking at the virtual launch held at the Ministry's Hope Gardens offices in St. Andrew on June 22, Green said the policy will protect fishers against a wide array of perils both at sea and on land and even when their vessels are being repaired.

“It not only gives them greater security; it also gives them greater accessibility to the things they need to enhance their businesses,” Green stated.

In addition, Advantage General has also provided for fishers and farmers special access to discounted rates for insuring their cars and homes, the agriculture and fisheries minister stated.

Noting the need to provide protection for farmers in relation to all the investments that they have placed in the ground and in their greenhouses that are subject to so many vagaries, especially in relation to weather, Green said the next step is the provision of crop insurance.

For her part, Vice-President of Underwriting and Channel Management at Advantage General, Ruth Cummings, in outlining the benefits under the package, said the protection provided by the Safety Net policy includes accidental loss or damage to fishing vessels and accessories by fire, explosion, malicious acts, flood, hurricanes and other such perils as well as theft of vessel or outboard.

“We believe it is important that fisherfolk are protected and have peace of mind as they go about their business,” said Cummings.

 

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ABOUT SAFETY NET POLICY

The Safety Net policy provides coverage for accidental physical loss or damage to the fishing vessel and its accessories including theft. For the first time, vulnerable fishing communities will have access to insurance coverage developed specifically for them.

We recognize our fishers and farmers as the backbone of our economy and the primary providers of the food we eat. We want to protect their livelihood by providing affordable and accessible insurance coverage.

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