Study On The Marine Aquaculture Risk And Insurance Pattern In China

As the biggest producer of aquatic products in the word, Our country has always been attaching importance to the development of marine fishery. With fisheries resources running out caused by excessive exhausting, government has adjusted some fishery policies in recent years. To support the traditional fishermen, they encourage the development of aquaculture in coastal area, so aquaculture industry has been developing very rapidly in recent years. With the improvement of the standard of living brought about by the economy development, it comes an increase of demand for aquatic products. Seafood is high in protein and low in fat, meanwhile it has some other nutritional values, so people are increasing demands for seafood. Marine aquaculture industry features high input, high output and high profits, but it is also an industry with high risk. With characteristic of offshore operation, it can easily be affected by natural disasters, causing our country huge losses each year. Not only the sudden disasters such as storm, typhoon can make huge losses, changes in temperature and salinity can also cause sea-lives discomfort and make them in death risk. At the same time, it is also facing many serious kinds of diseases, that are difficult to cure, resulting in serious losses for the fishermen.Government attaches great importance to the development of aquaculture participating in the construction of infrastructures in coastal area against typhoon and storm tide disasters. But those acts can not be completely effective in reducing marine disasters, so it is very urgently for some other acts to the establishment of risk protection. Aquaculture insurance can not only provide the insured recovery fund after disaster, it has some other advantages compared with the government disaster relief funds. Therefore, the government attaches great importance to the development of aquaculture insurance. But aquaculture insurance develop very slowly in our country, it is still carried out in some local areas, which can not match well with the rapid development of marine aquaculture in our country.This paper analyzes the present situation of marine aquaculture insurance, try to find the reasons that can explain it and explore some solutions for its development. The article is divided into four parts. The first part introduces the basic conditions of marine aquaculture and aquaculture insurance, including the meaning,characteristics and significance. Then it introduced the marine aquaculture insurance in our country at present, summarizes some experiences and focus on the analysis of the existing problems, contains the difficulty for ascertainment of the stock and losses, serious moral hazard, higher premium,incomplete subsidy, reinsurance and catastrophe risk dispersion mechanism, the mismatch between the existing products and the practical needs and so on. The next part the paper introduces innovative insurance-wind index insurance. By comparison with traditional aquaculture insurance, we find its rationality of index selection and some strengths in solving problems of serious moral hazard and difficulty for ascertainment of losses, meanwhile it points out the existing disadvantages. Finally the paper puts forward a suggestion for the development of aquaculture insurance:improve the involvement of government and perfect the subsidy mechanism. Then the paper analyses the subsidy from the principle, the source of funds, proportional division and the way, meanwhile calculates the amount of the subsidy ratio as shrimp aquaculture insurance in Guangdong Province for example.