Over 77 percent of fishing boats in the central province of Nghe An are insured with total fees of more than 14 billion VND (667,000 USD) collected in the first six months of 2015.

Accordingly, local fishermen paid 2.1 billion VND (100,000 USD), and nearly 12 billion VND (572,000 USD) was provided by the State budget.
The number of fishermen receiving insurance reached 9,168, representing 64.2 percent. Hoang Mai commune in Quynh Luu district has 90 percent of its fishermen insured.

The province reports losses worth tens of billions of VND due to fishing boat accidents every year.

Nghe An province has coordinated with Ministry of Finance (MOF) to organise fishing boat insurance programmes in the localities in an attempt to minimise damages when accidents occur.
Since 2014, the province has had 66 fishing boat-related accidents causing 2 billion VND (97,600 USD) in damages.

To date, insurance units have compensated 42 cases with 750 million VND (35,700 USD) disbursed.

Besides insurance policies for fishing boats and fishermen, the province has also implemented training and supporting programmes to ensure they benefit from Government Decree 67.

Decree 67/2014/ND-CP, taking effect from August 25 last year, provides basic policies to encourage fishermen to build high-capacity steel ships capable of fishing offshore, a practice that could earn fishermen higher incomes and contribute to protecting the country’s territorial waters.-VNA