What ails fisheries insurance in India? An assessment of issues, challenges and future potential

Parappurathu, Shinoj; Ramachandran, C; Gopalakrishnan, A; Kumar, Dilip; Poddar, Mrinal K.; Choudhury, Manas; Geetha, R.; Koya, K. Mohammed; Kumar, Rajan; Salini, K P; Sunil, P

doi:10.1016/j.marpol.2017.09.023

Cited by 15 publications

(9 citation statements)

References 4 publications

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“…Some researchers have acknowledged poor performance of insurance in the fishing community. For example, Parappurathu et al (2017) addressed the issues of fishery insurance in India and identified various factors that contributed to low coverage of fisheries insurance in the country. But they did not look into fish farmers' WTP and address the problem from their perspective.…”

Section: Review Of Related Literaturementioning

confidence: 99%

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

Zhao

2018

Marine Policy

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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.

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Section: Review Of Related Literaturementioning

confidence: 99%

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

Zhao

2018

Marine Policy

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“…According to Parappurathu et al (2017), under normal conditions, creditors should provide provisions for fishermen to pay their loans or principal loans periodically so that they can immediately return the capital lent to creditors. However, most creditors do not do this, and fishermen continue to be tied to creditors ensuring that they receive commissions generated from each fishermen’s catch.…”

Section: Social Capital and Sources Of Financing In Emerging Economiesmentioning

confidence: 99%

Informal financing or debt traps: are the UN sustainable development goals being met in emerging economies?

Manzilati

Prestianawati

2021

RIBS

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Purpose This paper aims to provide new insights into the financing system used in emerging economies and how they related to UN Development Goals for sustainable development. The study focuses on small businesses’ informal financing options and whether these lead the borrower into a debt trap. Design/methodology/approach The study uses the example of small-medium fisheries in Indonesia to highlight the formal/informal financing options availed by the businesses and their relationship with the lender. The authors use the qualitative method with a phenomenology approach and interview key stakeholders in the sector. Findings The authors find that the set interest repayments and the checks and balances involved in judging the borrower’s creditworthiness make the formal due to the strict requirements. Instead, the fishermen rely on the informal financing system and borrow from the mapak – a person who lends money on the condition that the fishermen’s catch will be sold to the lender as repayment. Research limitations/implications This study focuses on the financing system in emerging economies. Using the coastal business areas in the Indonesian fishing sector, the authors highlight the informal financing system and the potential debt trap. Future research could extend and study this issue in other industries and geographic regions to test whether emerging economies meet their targets and commitments under the UN Sustainability Development Goals. Emerging markets like Indonesia have a unique model of financing system and their business structure. Three conditions are highlighted in the financing system of business in coastal areas, namely, informal financing, close market access and social capital. Originality/value This study addresses financial inclusion and whether the UN Sustainability Development Goal 8 is being met in emerging economies. The study is one of the few to address this issue and highlights that emerging economies are yet to take concrete steps to make the formal financing sector more inclusive to achieve poverty alleviation.

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“…In the above data, it can be seen that the attitude of the fisherman on the attribute mix is on a neutral attitude with a value of 228.00 with the highest value on the ease of accessing the location of PT Jasindo that is equal to 19.20 and the smallest attitude value is on socialization which is at a value of 5.50 shows that socialization activities carried out are still lacking, making the low number of fisherman who follows the fisherman's insurance. A study conducted by [16] to showed that the poor performance of fisheries insurance in India can be improved through bridging the trust deficit amongst the stakeholders, bringing about attitudinal changes through awareness drives, developing innovative institutional mechanisms, and leveraging the potential of technological interventions.…”

Section: Advances In Engineering Research Volume 202mentioning

confidence: 99%

Fisherman Attitude on Fisherman Insurance in Bandar Lampung City

Febryano¹,

M²,

Damai³

et al. 2021

Proceedings of the International Conference on Sustainable Biomass (ICSB 2019)

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A fisherman insurance program is one of the government's policies to protect fisherman in their work. This study aims to explain the attitude of fisherman to fisherman insurance programs. The sampling technique used is non-probability sampling using the method of judgment sampling approach, which is based on certain criteria that have been determined in advance by the researcher. The result of this research shows that the attitude of fisherman to Fisherman Insurance is between neutral and maximum attitude values. The level of attribute importance that is considered very important for fisherman is that premium subsidies are inversely proportional to the level of performance that is not good at this attribute. It needs an extension to increase the awareness of fisherman self-protection by related parties and review of the policies of fisherman insurance programs.

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What ails fisheries insurance in India? An assessment of issues, challenges and future potential

Cited by 15 publications

References 4 publications

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

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

Informal financing or debt traps: are the UN sustainable development goals being met in emerging economies?

Fisherman Attitude on Fisherman Insurance in Bandar Lampung City

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