Fishing boat insurance - a "lifeline" for fishermen in Ha Tinh.

(Baohatinh.vn) - Faced with the harshness of natural disasters and the risks of fishing, proactively purchasing fishing vessel insurance has become a "lifeline" helping many fishermen in Ha Tinh protect their assets and livelihoods.

Over the years, many boat owners in Ha Tinh have boldly invested from hundreds of millions to billions of dong to build new fishing vessels, upgrade existing ones, and install modern navigation, fish finder, and communication systems to increase seafood production and value.

However, this profession of sailing the open sea also carries many risks, from rough seas and strong winds to collisions, fires, and other unexpected incidents. Danger can even strike when the ship has docked and is safely anchored. In this context, proactively purchasing fishing vessel insurance has helped many fishermen in Ha Tinh protect their assets and livelihoods, and enabled them to acquire new equipment for fishing.

Mr. Mai Xuan Quynh received assistance in completing the procedures to claim benefits from his fishing vessel hull insurance.

In March 2025, during a fishing trip off the coast of Ly Son ( Quang Ngai province), Mai Xuan Quynh's fishing boat (from Hai Ninh ward) was unfortunately sunk by large waves and could not be salvaged. "Fortunately, our boat had prior hull insurance and crew accident insurance, so we were reimbursed according to the contract. Afterwards, my family received guidance from relevant authorities, local government, and the insurance company on how to file for compensation as per regulations," Mr. Quynh shared.

The sudden storm on the evening of July 19th sank 58 fishing boats in the province; in particular, the 15-meter-long boat with a 250 HP engine belonging to fisherman Tran Dinh Xuan (Hai Ninh ward) suffered severe damage, resulting in hundreds of millions of dong in losses. Mr. Xuan said: “Knowing that fishing always involves high risks, I am one of the few fishermen who have maintained fishing boat insurance for many years. The storm on the evening of July 19th was the most devastating loss I've ever experienced. I am currently completing the paperwork to receive payment from the insurance company, so that I may have the funds to build a new boat and continue fishing.”

The number of fishing vessels currently insured remains very modest compared to the total number of vessels operating in the province.

According to information from the Ha Tinh Fisheries Department, the province currently has 3,980 fishing vessels with a length of 6 meters or more that have been registered and updated in the national fisheries database (VNFishbase). Of these, 273 vessels are 12-15 meters long, 71 vessels are 15 meters or longer, and 3 vessels are over 24 meters. This group of vessels is most vulnerable to risks during fishing operations due to operating in remote areas and being directly affected by natural disasters and unexpected damage.

Although the practical benefits of participating in insurance are clear, our investigation reveals that the number of fishing vessels insured remains very modest compared to the total number of vessels in operation. Currently, only about 40 fishing vessels in the entire province participate in this type of insurance.

Many fishing boats belonging to fishermen in Thien Cam commune were damaged after typhoon No. 5.

This situation stems from several reasons. According to the law, insurance for crew members is mandatory; ship owners must purchase it for all crew members and workers on fishing vessels. However, insurance for the hull, machinery, fishing gear, and fishing equipment is not mandatory, only encouraged to mitigate risks during fishing operations.

Insurance premiums are quite high, while fuel prices have been continuously rising in recent years, and fishing yields have decreased, leading to a decline in fishermen's income. Besides economic difficulties, apprehension about contract terms and a lack of trust in insurance companies also cause many fishermen to hesitate when deciding to participate. Furthermore, some fishermen still have a mindset of relying on government support, not being truly proactive in protecting their own property and lives, as well as those of their crew members. In recent times, many fishing vessels have suffered accidents at sea, each time resulting in heavy losses for fishermen, even leading to complete financial ruin, because they did not purchase insurance. Knowing that insurance is a "lifeline" for their livelihood, many boat owners still "gamble" their assets on the vast ocean.

More attention needs to be paid to promoting the benefits of participating in fishing vessel hull insurance.

Mr. Nguyen Viet Hung, Deputy Head of the Fisheries Exploitation Department (Ha Tinh Fisheries Sub-Department), said: “The fishing profession is fraught with risks due to increasingly unpredictable weather conditions and climate change. In particular, typhoons No. 5 and No. 10 recently caused nearly 100 fishing vessels in the province to sink, be damaged, or suffer other damage, significantly impacting livelihoods and production activities. Therefore, participating in fishing vessel hull insurance is now extremely necessary, not only to protect livelihoods but also as a support system for fishermen to withstand storms and unexpected losses.”

In the coming period, the Fisheries Sub-Department will continue to coordinate with localities to strengthen the dissemination of information to fishermen about the State's support policies in fisheries development, including insurance support policies, as well as the practical benefits of participating. In addition, to build trust among fishermen, insurance companies need to demonstrate responsibility and promptly support and compensate customers when risks occur, helping fishermen quickly stabilize production and confidently go out to sea.”

Source: https://baohatinh.vn/bao-hiem-tau-ca-phao-cuu-sinh-cua-ngu-dan-ha-tinh-post297748.html