Maximising insurance to support fishermen

This should add to the help fishermen are receiving following Government Decree 67. Here’s a report from Thua Thien Hue Province.

Fisherman Nguyen Tuấn, a fisherman in Phu Vang District has received 70 million VND (or 3,500 USD today in an insurance pay-out by the Bao Viet Insurance Company in Thua Thien Hue Province. The money is compensation for his son’s death during his working trip at sea in August.

Nguyen Tuan, Phu Hai Commune, Phu Vang Dist., Thua Thien Hue Province said: We have bought insurance for our fishing boat. Then our son and also the captain of the boat were lost due to an accident, and we’re now receiving full coverage compensation.

Despite the benefits from buying insurance, only 25% of fishing vessels having access to these preferential insurance packages after a year of the policy’s implementation in Phu Hai Commune. The figure for the whole province is also limited.

Doan Vay, Deputy Director, Thua Thien Hue Branch of Bao Viet Insurance Company said: As of September, only 30% of fishing vessels in Thua Thien Hue Province bought the insurance under Decree 67. For the other 70%, we’re encouraging the fishermen to buy insurance so they receive compensation in any accidents they may have.

Decree 67 took effect from August 25 last year. It provides basic policies to encourage fishermen to build off-shore fishing high-capacity steel-hulled ships.

For insurance-related provisions, vessels of under 400 HP will receive a 70% subsidised premium, while the figure for vessels of over 400CV will be 90%. With this regulation, boat-owners have to pay a small amount but can fully benefit from the insurance package.

Nguyen Van Binh, Chairman, Phu Hai Commune People’s Committee, Thua Thien Hue Prov added: "In the time to come, we will continue co-operating with insurance companies to spread the benefits from buying insurance to local fishermen. We will also promote other contents of this decree to better support them.

Besides insurance policies for fishing boats and fishermen, the province will also implement training and support programmes to ensure they benefit from the new regulations outlined in Government Decree 67./.