The interim government is set to take swift action in introducing ‘insurance facilities’ for fisher families to safeguard their future against natural disasters and accidents.
This decision was adopted at the “DC Conference-2024,” sources from the Financial Institutions Division have said.
A letter obtained from the authorities on Thursday indicates that the Cabinet Division, the Ministry of Fisheries and Livestock, the Insurance Development and Regulatory Authority (IDRA), and Sadharan Bima Corporation (SBC) have agreed to take the necessary steps in this regard.
The letter further mentions that discussions will be held with the Ministry of Expatriates’ Welfare and Overseas Employment to assess the feasibility of developing a project similar to the existing “Expatriate Workers' Insurance’” under the insurance coverage of the state-owned Jiban Bima Corporation (JBC).
This project will be evaluated for feasibility and a roadmap will be developed to determine the next steps, which are expected to be presented at the upcoming meeting.
It was reported that the proposal to introduce insurance facilities for fishers, aiming to mitigate future risks and ensure social security for fisher families in the face of natural disasters and accidents, was a key recommendation at the “DC Conference-2024,” held on March 3 this year during the tenure of the Awami League government, prior to it being ousted.
As the proposal falls under the jurisdiction of the Financial Institutions Division, the Cabinet Division has requested this department to implement the initiative.
Md Jahid Hossain, joint secretary (Insurance Division) of the Financial Institutions Division, confirmed that the Cabinet Division has requested them to implement the decision to introduce insurance facilities for fishers, which was taken at the “DC Conference-2024.”
“The Ministry of Fisheries and Livestock was asked to submit a proposal to us regarding the insurance scheme for fishers, which they have now done. A meeting is going to be held to determine the next course of action concerning the proposal,” he added.
Sources from the Department of Fisheries said that there are a total of 1.811 million registered fishers in the country. Currently, Sadharan Bima Corporation offers a policy named “Janata Personal Accident Insurance,” with an annual premium (excluding VAT) of Tk 60.
In its observations, the Department of Fisheries suggested that the insurance scheme for fishers could potentially be managed by the Jiban Bima Corporation, instead of Sadharan Bima Corporation.
It has been suggested that the insurance policy could be introduced through a non-ADP (Annual Development Programme) project. Initial implementation may begin in districts within Cox's Bazar or the Barishal division.
SM Moniruzzaman, director of the Project Implementation Unit at the Department of Fisheries, stressed the critical need for insurance coverage for all fishers, including those working at sea.
He highlighted the significant risks fishers face due to natural disasters such as storms, cyclones, tidal surges, and lightning strikes, which threaten their livelihoods. Insurance, he said, could protect them from financial losses during such crises.
Moniruzzaman also emphasised the urgency of launching insurance facilities for fishers, suggesting that the number of families of deceased and missing fishers should be assessed to determine the scheme's scope.
He further recommended that Barishal division could be the starting point for implementing the policy.
