Research On Chinese Fishery Mutual Insurance Supervision System

With the continuous development of China’s fishing industry,the risks faced by fishermen have also increased.Risks such as vessel damage,catch loss,personal injury,etc.,have had a significant impact on the production and livelihood of fishermen.As a relatively new form of insurance,China’s fishery mutual aid insurance has been widely used in the fishing community to reduce the economic risks faced by fishermen in the face of force majeure.Although the fishery mutual aid insurance market has been widely used,there have been some irregularities in the market due to inadequate regulation,which have led to losses for fishermen.Therefore,it is necessary to establish a sound regulatory system for fishery mutual aid insurance.The research topic of this article is the regulatory system for fisheries insurance.The research methods used include literature research and case analysis.Firstly,an overview of the concept and development of mutual aid insurance for Chinese fisheries is presented.Fisheries mutual aid insurance is a type of mutual insurance in which fishermen and ship owners form a mutual insurance organization for common risks.Through risk-sharing and loss-sharing,they help each other to achieve the purpose of risk diversification and premium reduction.The development of Chinese fisheries mutual aid insurance is described in four stages: the trial period of commercial insurance,the exploration period of mutual aid insurance,the policy support period,and the period of diversified development.The importance of understanding the regulation of fisheries mutual aid insurance is emphasized to ensure the healthy and orderly development of the industry.Finally,the basic concept of the Chinese Fisheries Mutual Aid Insurance Society,which will be launched this year,is introduced,mainly based on the content of the "Charter of the Chinese Fisheries Mutual Aid Insurance Society." Secondly,the current status and existing problems of the regulatory system for Chinese fisheries mutual aid insurance are discussed.The legal basis for the regulation of Chinese fisheries mutual aid insurance is insufficient,and there is a lack of a central-level fisheries mutual insurance law.In addition,the setting of local fisheries mutual aid insurance terms is unreasonable,making it difficult for regulatory laws to cover all aspects of fisheries mutual aid insurance comprehensively and to ensure the effectiveness of regulation.The insurance coverage for fisheries is not comprehensive,and some areas in China lack aquaculture insurance.Also,the compensation limits for fisherman deaths vary from province to province.The mechanism for spreading the risk of catastrophic disasters is inadequate,and China’s means of responding to such disasters is too singular,lacking the ability to respond to catastrophic risk perfectly.The reinsurance system for fisheries is imperfect,and there is a lack of sound market rules.The market’s understanding of risk diversification and reinsurance capabilities in the fisheries industry is insufficient and needs to be further improved.The subsidy policy for fisheries mutual aid insurance needs to be improved,with both the depth and breadth of subsidies needing to be increased.Government intervention in fisheries mutual aid insurance is excessive,and there have been some issues with the mutual insurance associations in coastal provinces,which tend to operate independently.Thirdly,the different characteristics of foreign fisheries mutual aid insurance regulation are analyzed.Through an analysis of the advantages of foreign fisheries insurance regulation systems,it is believed that policy support for fisheries is essential for the development of China’s fisheries insurance legal system.In the future development process,the legal system for fisheries insurance needs to be further improved,and specialized laws related to fisheries insurance need to be formulated to benefit the development and smooth operation of the fisheries insurance market.Finally,the article reflects on how to improve the regulatory system for Chinese fisheries mutual aid insurance.Solutions are proposed to address the various issues mentioned above,including the development of a special law for fisheries mutual aid insurance to provide legal basis for its regulation,the improvement of local fisheries mutual aid insurance terms,simplification of the cumbersome claims process,improvement of the fisheries insurance system,unification of compensation limits,establishment of a catastrophic risk fund,expansion of the fisheries reinsurance system,and strengthening the role of policy guidance,etc.In summary,this study shows that in order to protect the interests of fishermen and promote the stable development of the fishing industry,it is essential to establish and improve the regulatory system for mutual insurance in the fishing industry.Currently,there are still many problems in China’s mutual insurance system for the fishing industry,mainly due to the lack of legislation and inadequate regulation.By implementing measures such as enacting specialized laws on mutual insurance for the fishing industry at the central level,improving local mutual insurance clauses,establishing catastrophe risk funds,expanding reinsurance systems for the fishing industry,and perfecting the government support and supervision system for mutual insurance in the fishing industry,the problems in the mutual insurance market for the fishing industry can be effectively solved,and positive contributions can be made to the development of China’s fishing industry and the livelihood security of fishermen.