Grants To Provide Discounted Life Insurance

Through a programme of micro insurance, the small-scale fishing sector will partially cover the risks involved in fishermen's daily activities. The initiative will be subsidised by 70 per cent by SERCOTEC, which will provide 12 months of relief to the fisherman and their families.

Luis Rivera, Regional Director SERCOTEC, commented: "This insurance is very important for those involved in the exercise of this activity. You pay only once and then every fisherman who is registered can access this benefit."

He also added that "it is important to remember that the life insurance covers wider activities, not just death."

The State Bank will offer life and accident insurance for fishermen at a price of $9,990, where SERCOTEC subsidises $ 7,000, leaving the fishermen to pay $2,990 per policy.

Such insurance covers accidental death (including alleged death with and without loss of ship, without requiring the declaration of the court, but subject to the reporting requirements of the maritime authority), or permanent total disability and dismemberment.

Representing Pablo Galilea, Reinaldo Ortiz, advisor to the Department of Fisheries, said: "This s a breakthrough for the industry, as our fishermen our an important part of the industry."

After the insurance contract and the full payment of the premium ($9,990), the grant may be sent by electronic transfer or cash payment from the bank.

The main requirements for accessing this policy are: to be a fisherman aged between 18 and 65, as defined under the General Law on Fisheries and Aquaculture, and have enrolled in the Registry of Artisanal Fisheries SERNAPESCA.