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Insurance Of Fish In Ponds

Insurance Of Fish In Ponds
Third party image reference
Third party image reference
Third party image reference
Third party image reference

This is applicable to fry/fingerlings, fish and stock, ponds and breeders in fresh water

only and not to marine fisheries or to brackish water fish. Fish of rohu, katla, mrigal,

common carp, silver carp and other recognized breeds are covered.


The entire period of crop since the period varies from 3 to 12 months.

(a) Fry to fingerlings-3 months period in rearing pond.

(b) Fingerlings to fish stage -12 months period in stocking pond.

(c) Breeders (age 1 yr to 5 yrs.) 12 months period in breeder ponds.

Under b – Policy period is strictly for 24 fortnights from releasing of fingerling in pond

i.e. if insurance is offered at 400 gms weight (8th forthnight), policy period will

automatically be for 17 fortnights only not 24 fortnights.

This will ensure that if there is flood after harvest i.e. after 24th fortnight, the insured

cannot prefer a flase claims as the policy will cease with 24th fortnight. If there is no such

limitation, possibility of false claims after harvest in the event of flood may continue.


The value of fish changes from Fry, fingerlings stage to the final catch/harvest period.

Hence there is no fixed sum insured under the policy.

This is to be certified by an authorized officer approved in this regard and valuation table

incorporated in the policy forming the basis for settlement of claims. Howev er, the

scheduled valuation table given in scheme will be the basis both for the acceptance as

well as settlement of the claim.

Valuation table for fry to fingerlings Annexure ‘A’

Valuation Table for fingerlings to fish Annexure ‘B’

Valuation table for Breeders Annexure ‘c’

The value arrived at will depend on :

(a) The cost of fry/fingerlings

(b) Cost of Inputs

(c) Other incidental expenses

Profit not being included in the valuation.


Type of Scheme

Basic Premium Rate Optional cover (flood

And allied risks) can be

Granted by charging

Additional premium

A. For Bank financed 2.4% gross 1 to 2% gross on peak value

& other projects for on peak value

fish in stock ponds

or fry to fingerlings

B. For scheme through 3% Net on 1.70% Net on average value

FFDA/IRDP and other average value

Similar subsidized projects

Note: In flood prone areas tanks with below 9 contours and certified by govt. as flood

prone zone, the premium shall be @ 2% and in other cases it shall be @ 1%.

The minimum premium per policy is rs.30/-


The policy covers only total loss of fry/fingerlings/fish due to an accident or disease

contracted or occurring during the period of insurance. Partial loss or any kind is not

covered. There is no short period policy. The policy will be for one crop only. The

policy cover should not be extended beyond the period stated above even with an extra

premium. The policy should be taken within 1 month from the date of stocking i.e. no

policy should be given to the farmers/bankers who approach for insurance after one

month from the date of stocking of fry/fingerlings/breed fish. The basic cover does not

include flood and allied risks. Hence additional premium should be collected for deleting

that exclusion from the policy.

The cover is wide enough to include epidemics, pollution, poisoning, malicious act by

third parties, riot and strike, flood and such other natural calamities are covered as an

extension by payment of extra premium only. Terrorism is also covered without

additional premium.

Short Period Policy

This insurance is for crop. Even if the policy is taken at 600 gms. And the policy period

is 6 and half months, full premium should be collected and short period rates should not

be applied.

Topic: #silver
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