Research On Fishery Insurance In China

As a world-class fishery country, national fishery production meet nearly a third of the demand of the whole world, accounting for about one over ten of agricultural production in China. As a result of the high-risky characteristics of fisheries industry, fishery insurance is the best choice for the fishery producers to avoid and resist fishery risk. But the reality is that fishery insurance in China is insufficient in both demand and supply. Without supporting policies, commercial insurance companies cannot gain profits and cut down their supply of fishery insurance products. Present study of fishery insurance mainly focuses on mutual insurance mode, excessively praising the function of mutual insurance mode without pointing out its defects. From the actual situation, the fishery mutual insurance association has been established for 21 years in China, but the problem in fishery market still exists. The development of fishery insurance in China should follow a new path.The author summarized the situation of the fishery insurance in China. Besides mutual insurance organization, there’re many commercial companies with local characters showing up in separate fishing area. Fishery insurance products are produced by different fishery-insurance companies and fishery-insurance organizations in China and there’s vicious competition between them. Whether commercial insurance company or mutual insurance organization doesn’t have mature disaster response mechanism, the government tends to be the final step of catastrophe risk guarantee.The author analyzes the plight of the development of fishery insurance in China,learning advanced experiences from Western fishery countries andmakesspecific recommendations which refer to operation concept of fishery insurance, combination of fishery-insurance mode, financing mode and catastrophe risk insurance. Due to its self-defect, mutual insurance organization is not appropriate to carry out high-risk types of fishery insurance, it should put low-risk insurance as its main direction of development. Taking advantages of its wide range of influence and semi-official character and make China fishery mutual insurance association to be the national agency for fishery insurance to reduce vicious competition and gradually undertakes the fishery reinsurance and catastrophe risk insurance.