In Iceland we find great commitment to market solutions in the fishery as exemplified by the individually transferable quota system (ITQ). This management system, along with the state’s diminishing commitment to regional planning, have had marked impact on the people who live in fishing communities. In this article, the author explores some of the consequences of these changes on women’s lives within a particular fishing village. The inhabitants of the village have not been able to take advantage of the new system in which fewer and larger companies are taking over. The coping mechanisms adopted by women stress community and working together whereas men respond more on an individual level. The already existing gender divisions within fishing communities underpin the different responses and coping strategies.