Insurance payout helps fishermen make ends meet
21 March, 2023, 6:15 pm
With their livelihoods heavily dependent on weather, many fishermen in the Western Division have been struggling to make ends meet.
One such fisherman, Faizul Ali received an insurance payout while at sea for the recent heavy rainfall experienced in Ba.
The parametric microinsurance policy covering excessive rainfall was introduced to Mr Ali through the Canefarmers Co-operative Savings & Loans Association Ltd who have recently gained about 10 fishermen as members, including Mr Ali.
“When the weather is good then we can go out fishing. Sometimes (we’re unable to fish for) one week, two weeks, this time its three weeks now and then the boats went out,” Mr Ali said, adding that in his experience the weather has only gotten worse over the past few years and his boats pull up comparatively fewer fish.
“The catch is not very good now,” he stated, “not like 5 or 10 years back.
“Before, we used to go (out fishing) Monday and come back Tuesday or Wednesday. But now Monday to Friday or Saturday, one week, because the expense is too high. “When we go its $500 to $600 expense for one trip.”
“I was happy that I got some money. Because of the bad weather we didn’t have much fish,” Mr Ali said of receiving his $250 payout from the insurance policy.
“I’d like other people to join this insurance policy, it’s good for the people during hard times. I joined it last year, I got the money this year to help my family with food and bills, and I already told some other people to join this insurance policy,” Mr Ali said. |