At a time when the lives and property of thousands of fisherfolk are jeopardised by sea level rise and climate-induced weather uncertainties, specialists have suggested climate risk insurance which, according to them, could be an option for dealing with the natural calamities.
Highlighting that penetration of insurance continues to be low in the fisheries sector, especially in the capture fisheries, they said parametric insurance is actually a viable option to move forward in mitigating climate risks. “Parametric insurance programmes can be developed predicated on weather and ocean observation models even with limited data”, they said.
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