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.
2.PERIOD OF INSURANCE
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.
4.RATE OF PREMIUM
Type of Scheme
Basic Premium Rate Optional cover (flood
And allied risks) can be
Granted by charging
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/-
SCOPE OF COVER
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
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