Service | Aquamaxs Aquaculture Insurance

Benefits and Services

Based in Bergen, Norway, the aquaculture capital of the world, AXA XL’s Aquaculture team is an acknowledged market leader. The team has over 60 years of combined underwriting expertise along with a wealth of practical fish farm and veterinary experience. Our underwriters and claims managers also are experts in biomass estimation methods which ensures that covered losses are assessed quickly and fairly. We maintain ongoing relationships with fish farmers around the world, large and small, as well as leading university researchers, and are continually looking for new solutions that will help to boost resilience and enhance productivity.

INSURANCE TYPES

Aquaculture

Data Collection and Assessment:

Assessing the risks and setting appropriate insurance premiums require accurate and up-to-date data.

Gathering such data for aquaculture can be challenging, as it involves complex environmental and biological factors.

Aquaculture

Awareness and Education:

Many fishers and farmers may not fully understand the concept of insurance. Raising awareness and providing education on the benefits and processes of the insurance scheme is essential for its successful implementation.

Aquaculture

Adverse Selection:

There is a risk of adverse selection, where only those at high risk choose to participate in the insurance scheme, leading to unsustainable premium levels. Balancing the participant pool to include a diverse range of risk levels is a challenge.

The administration of the insurance scheme, including the timely processing of claims and premium payments, can be operationally complex.

Our Services

Benefits and Services

INSURANCE TYPES

What are the Challenges in Implementing the Aquaculture Crop Insurance Scheme?

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Contact South India zonal Manager