Evaluating the demand for aquaculture insurance: An investigation of fish farmers' willingness to pay in central coastal areas in China

Abstract

Despite the remarkable development in its fishery sector, the penetration rate of fishery insurance in China is considerably low. This paper examines the key factors that contribute to the poor performance of fishery insurance, in particular aquaculture insurance, in China. The doublebounded dichotomous choice contingent valuation method (DB DCCVM) is used to investigate fish farmers' willingness to pay (WTP) for insurance, based on a survey of 1,280 fish farmers in three coastal cities in China. The results indicate that fish farmers' decisions on adoption of an insurance scheme depend on various factors, among which magnitude of financial loss, fish farmers' awareness toward insurance and their education all have a positive effect on the WTP. However, household income and farming experience are found to have a negative effect. Furthermore, the mean WTP for aquaculture insurance is estimated to be CNY579 (US$90.05) 1 per household, which is equivalent to 1.5% of mean annual household income. These results provide several policy implications for the Chinese government, insurance companies as well as researchers.

Prospects, determinants and profitability of aquaculture insurance among fish farmers in the Eastern Region of Ghana

“…The mean participation in aquaculture insurance and amount WTP were 0.657 and GH¢ 241.667 (US$ 50.00) Profitability of aquaculture insurance respectively. In contrast, Zheng et al (2018) revealed that the mean amount WTP for aquaculture insurance in China was US$ 90.05. A plausible reason could be that farmers in China had higher income levels relative to Ghanaian farmers.…”

“…Similarly, Watson et al (2018) examined cooperative insurance for aquaculture in Myanmar. Further, Zheng et al (2018) evaluated the Profitability of aquaculture insurance willingness to pay for aquaculture insurance in China whiles Han and Jiang (2019) analysed the insurance for Mariculture in China. However, to the best of our knowledge, there appears to be no empirical study on the prospects, determinants, and profitability of aquaculture insurance in Africa, particularly Ghana.…”

Systemic Risks of Climate Events and Households’ Participation in Mariculture Mutual Insurance: A Case Study of Shrimp Producers in Zhejiang Province

“…The participation rate of marine farmers who join cooperatives is only 33.06%. The fishery in developing countries is mostly managed by fishermen or small-scale fishing farmers [88], who will suffer great losses by climate disasters and who should be protected by the fishery insurance. But due to the fact that most of these fishermen or farmers often live and work separately, they find it hard to get their preferred insurance from the private insurance companies.…”

Qualitative and quantitative adsorption mechanisms of zinc ions from aqueous solutions onto dead carp derived biochar

“…8 Biochar is a kind of carboncontaining, stable and highly aromatized carbonaceous solid material prepared by pyrolysis of biomass (e.g., plant residues, livestock and poultry manure, and other organic solid wastes) under oxygen-limited conditions and the temperature below 700 C. [8][9][10] In recent years, China supplies about 60.5% of aquatic products worldwide. 11,12 The large amount of wastes (e.g., dead or sick aquatic carcasses, residual baits and feces) that produced during the intensive farming process are burned or buried, which will cause not only waste of biomass energy and environmental pollution, but also risks of zoonotic diseases. 11,12 Alternatively, if these wastes were converted into biochar and employed for the removal of heavy metal ions (e.g.…”

“…11,12 The large amount of wastes (e.g., dead or sick aquatic carcasses, residual baits and feces) that produced during the intensive farming process are burned or buried, which will cause not only waste of biomass energy and environmental pollution, but also risks of zoonotic diseases. 11,12 Alternatively, if these wastes were converted into biochar and employed for the removal of heavy metal ions (e.g. Zn 2+ ) from wastewater, it would be quite benecial to resource utilization of waste and remediation of heavy metal polluted wastewater.…”