Assisting ocean stewardship through marine insurance
Signatories to this statement are announcing their support towards efforts that may help to reduce and eliminate IUU fishing.
The development of this statement has been co-operatively facilitated by Oceana and UN Environment’s Principles for Sustainable Insurance, with inputs from industry stakeholders. Co-sponsors to the statement include Allianz AGCS, AXA, Hanseatic Underwriters, Generali and The Shipowners’ Club.
Specifically, this statement:
- acknowledges the importance of our oceans, and the threat that IUU fishing poses to the sustainability of fisheries and health of marine ecosystems;
- encourages the adoption of measures that help to reduce and eliminate IUU fishing; and
- encourages the use of appropriate risk management protocols and effective due diligence procedures to help reduce the risk of insuring vessels or companies that are acting contrary to agreed international governance frameworks and international law covering IUU fishing.
The full statement can be viewed here.
Click here to read the Guidelines To Control Or Mitigate The Risk Of Insuring Vessels And Companies Associated With Illegal, Unreported And Unregulated (IUU) Fishing.
The statement is open for insurers, reinsurers, brokers, and agents to sign.
Other entities that interact with the insurance industry such as insurance associations, regulators, and civil society groups are also welcome to express their support through becoming a supporting institution to the statement.
For more information about the statement, please contact dmiller@oceana.org.
Insurance Industry Statement Against IUU Fishing
