The Ministry of Fisheries and Aquaculture Development in partnership with Star Microinsurance Services Limited have launched the Fishermen Life Insurance Scheme (FLIS) for fishermen across the country.
Star Microinsurance is a specialized Microinsurance intermediary for Star Life/Star Assurance Company Limited.
FLIS can be seen as a financial inclusion scheme intended for artisanal fishermen who seem to have been excluded from the formal financial services due to their income levels, levels of risk, nature of their business or level of financial literacy. The dangers associated with the activities of the fishermen (marine and inland fishing) require the need for affordable and accessible Microinsurance insurance solutions for them.
The Fishermen Life Insurance Scheme (FLIS) is an innovative insurance product that seeks to provide insurance cover on the life of the fishermen and their fishing gears. The first pilot phase is currently on going in the Greater Accra, Western and Central region in selected landing beaches such as; Half Assini, Axim, Elmina, Shama, Ankaful, Apam, James Town and Aplabanya.
The second pilot phase will cover Volta, Eastern, Brong Ahafo and Northern regions in selected landing beaches including; Woe and Adina, Dzemeni, Kpando, Abotoase, Nkwanta, Dambai, Bupe, Adawso, Akateng and Ekye Amanfrom. This project when completed will provide an insurance coverage for over 200,000 fishermen across the country.
Have your say
More Business Headlines
- GCB supports completion of Alavanyo Maternity Clinic with ¢100,000
- Julian Kingsley Opuni appointed new Fidelity Bank Managing Director
- I doubt ADB would delist from Ghana Stock Exchange – GSE boss
- VIDEO: Farmers urge gov't to revamp Ghana’s seed factories
- GRA storms businesses to retrieve outstanding tax liabilities
- Ecobank appoints MFS Africa as digital payment partner
- Martell to launch two new outstanding cognacs in Ghana
- All animals are equal, but some are more equal than others
- Huawei’s Washington presence dwindles amid legal brawl with U.S.
- Shell, Eni face $1.1 billion Nigerian lawsuit over 2011 oil deal
- Rashida Saani Nasamu, Atta Akyea, others honoured with Nobles awards
- Total Petroleum Ghana wins Brand of the Year award
- ADB likely to delist from Ghana Stock Exchange
- The Seed Funds partners Kenya's 4G Capital fintech company
- Ghana could cut interest rates by March - Dr Ernest Addison