INSURANCE SCHEME FOR ACTIVE FISHERS OF THE COUNTRY
The Insurance Scheme was started by FISHOCPFED during from June, 1982 in Bhandara district of Maharashtra State when only 900 fishers were insured. At that time the name of the Scheme was Janta Personal Group Accident Insurance Scheme. There was no provision to provide any subsidy by any Government. The United India Insurance Company Ltd. was the insurer company of the scheme.
During the year 1982-83 the then Hon’ble Prime Minister of India had announced the scheme named as Centrally Sponsored Group Accident Insurance Scheme for Active Fishermen. The Ministry had appointed FISHCOPFED as a nodal agency to implement the scheme in all over the country through the United India Insurance Company. Under the Scheme Rs. 15000/- was covered. 50% of the premium was subsidized by the Central Government and remaining 50% was borne by the State Government either fully or in conjunction with the fisher members. In case of Union Territory 100% premium was subsidized by the Central Government.
During the year 2003-04 the company was changed with the approval of the Ministry and the Oriental Insurance Company Ltd., was appointed to cover the fishers through FISHCOPFED. Previously the cover of Rs.1,00,000/ was provided to insured against a premium of Rs. 12/- per fisher and after monitoring the scheme the cover was enhanced to Rs.200000/- against a premium of Rs. 16.90 per fisher during the year 2014-15.
From 01.06.2017 the Centrally Sponsored Group Accident Insurance Scheme was converged to Pradhan Mantri Suraksha Bima Yojana (PMSBY) under which a cover of Rs.2.00 lakh is provided against a premium of Rs. 12/- per fisher. Under the scheme 50% of the premium is subsidized by the Central Government and remaining 50% is borne by the State Government and for the North Eastern and hill states 80% of the premium is subsidized by the Central Government.
FISHCOPFED continued to implement fishermen insurance up to 2019–20, ensuring extensive coverage nationwide. Claim settlement ratio: approximately 80%, reflecting FISHCOPFED’s strong facilitation and coordination with insurance companies and state agencies.
This performance highlights the organization’s sustained commitment to safeguarding the welfare of fishers.