IB initiated fish insurance for the first time in Asia

Kathmandu, Dec 31 – The Insurance board (IB) has started fish insurance services for the first time in Asia. The insurance will be effective form the mid of chaitra. With the initiation of fish insurance provision, the trading is supposed to flourish largely.

 

Under the fish insurance criteria, when somebody kills the fish by poisoning the well it can be recovered by the insurance.

 

According to the Program Coordinator at the Directorate of Fisheries Development Ramananda Mishra “We have made arrangements to provide compensation even if someone poisons the pond to kill the fishes due to personal animosity if the farmer has done insurance. This is the first such provision in Asia. The farmers should be able to reap adequate benefits from this provision,” he said. (Byte source : karobar)

 

Director of IB Shriman Karki stated that fish insurance has been started with an objective of stressing on agriculture, cultivation and animal husbandry through modernization. “The commoners and even the insurance companies do not have adequate information about fish insurance now,” he said. He revealed that the insurance company concerned will be provided a grant of 50 percent for insuring agriculture, crop and animals.

 

The insured will receive 90 percent of coverage in the damage caused by poisoning, fire, lightning/thunder, earthquake, flood, landslide, hurricane, hailstone, snowfall/frost, emergency accidents due to external reasons, scarcity of oxygen and disease.

 

The directorial has implemented the "fish mission" for increasing fish production with its  growing demand. Fish mission at the recent is done in 20 districts in terai region and 12 hilly districts. it has also explained to expand the mission to the suitable places for fishery in other districts later.