more-inThe high premium of various marine insurance schemes continues to be a distressing concern for lower income group fishers and boat owners in the district. Though many of them are offered personal life insurance at low premium, such schemes are not available for their boats and other fishing equipment. Boat owners at Beypore say they never approach any insurance company for the purpose as it will finally end up in investing their whole annual profit for the security purpose alone. “The boat owners individually meet the cost of repairing in most of the cases as they have no other alternatives. Costly repairMr. Nasser points out that many boat owners are trying to postpone the repairing works as it will cost them dear during lean seasons.

Source: The Hindu January 22, 2018 03:07 UTC