The government has made an initiative to bring the fishing folk under insurance coverage with intent to lessen risks in the events of natural disasters and fatal incidents, according to officials.
To this end, the Financial Institutions Division (FID) has been asked to undertake a project and implement the insurance facility for fishermen through the state-backed Jiban Bima Corporation (JBC). The initiative follows a decision made at the ‘Deputy Commissioners’ Conference-2024′ where a deputy commissioner proposed for implementing an insurance scheme for fishermen and their family members.
According to fisheries department, there are an estimated 1.8-million registered fishermen in Bangladesh. At a recent meeting at the FID, joint secretary Jahid Hossain mooted to launch insurance policy among fishermen in Barisal or Cox’s Bazar districts.
Expatriate welfare ministry is implementing an ‘expatriate worker insurance’ policy through the JBC. Similarly, the policy for fishermen can also be executed through the same corporation. Fisheries department deputy director SM Moniruzzaman said insurance was of underlying importance for both seagoing and other fishermen.
“Their lives and livelihoods can fall in danger in case of any disastrous events. Insurance can help save them from financial losses,” he added.
Mr Monir also suggested making a list of family members of dead and missing fishermen to bring them under coverage. With FID additional secretary Amal Krishna Mandal in the chair, the meeting asked to prepare a project and conduct a feasibility study with an eye to launching the insurance policy.
When contacted, a senior FID official said the government wanted to launch the policy shortly to bring the fishing community and their families as soon as possible under its coverage.
“There is an insurance policy styled ‘Janata Incident Insurance’ at the Sadharan Bima Corporation with a yearly premium of Tk 60 per person,” he told the FE. However, it is not clear how many fishermen have bought the insurance policy and received the benefit, according to him. The insurance policy under review will particularly cover the members of the fishing community, he noted.