Shrimp farming is renumerative and risk prone enterprise in aquaculture. Crop insurance is one the of the risk management startegies intend to protect the farmers from the risks. ICAR-Central Institute of Brackishwater Aquaculture with Alliance Insurance Brokers has developed a aquaculture insurance product and the Oriental Insurance Company is implementing the scheme. In order to sensitize the insurance company officials about shrimp aquaculture, the business involved in it and the technology back-up available for shrimp farming, ICAR CIBA organized a three days training cum workshop during 1st to 3rd March 2023. Twenty six officials from the insurance sector and majority from the Agricultural Insurance Company participated in the programme.
Dr. Suvana, IFS, Chief Executive, National Fisheries Development Board (NFDB), Govt. of India, the Chief Guest inaugurated the training. In her presidential address she ariculated that NFDB has been working with Insurance Companies for developing a insurance product over a decade and it would support CIBA’s initiative in pilot testing of the insurance product. Dr Kuldeep K Lal, Director, ICAR CIBA briefed the trainees about the importance of shrimp farming and the major risk management strategies in the form of better management practices being adopted for achieving a sustainable production. Smt. Usha P. T, Regional Manager, NABARD, Regional Office, Chennai outlined the role of NABARD and its role as re-finance provider to the sector including the infrastructure development under the FIDF scheme of Govt. of India. Dr.S.Santhanakrishnan founder president Society of Aquaculture Professionals (SAP) and Dr.Arul Victor Suresh, President, SAP appreciated CIBA for the persisted efforts in developing the insurance product and optimistic that it would help the farming community in the event of a risk.
The training adopted an special androgical approach wherein all the topics were dealt by a ably supported by an industry representative. On the second day a field trip was arranged for the trainees to a shrimp hatchery, shrimp farm and processing plant to give a practical experience.
During the plenary session, Shri. V. Balasubramanian, Dr. T. Ravisankar and Shri. Srinivasan respectively representing farmers, development departments and insurance companies highlighted the expectations from their point of view. Ms. Girija Subramanian, Chairman Cum Managing Director, AIC India, the Chief Guest complimented ICAR-CIBA and the other agencies who have made this training workshop possible for the officials from insurance sector. She is hopeful that with the involvement of CIBA, NFDB and NABARD an insurance product would be rolled out shortly. Dr Kuldeep K Lal, Director ICAR-CIBA outlined that aquaculture sector has the necessary technology backstopping and certainly support an insurance product. Certificated were distributed to the trainees on their successful completion of the training. Dr T Ravisankar, Principal Scientist & Scientist-in-Charge, Social Sciences Division, Dr Prasanna Kumar Patil Principal Scientist & Officer-in-Charge, Institute Technology Management Unit (ITMU) and Dr Akshaya Panigrahi, Principal Scientist, Crustacean Culture Division, CIBA jointly coordinated the training-cum-workshop.
