Star Microinsurance commences pilot phase of FLIS project

The Ministry of Fisheries and Aquaculture Development in partnership with Star Microinsurance Services Limited, has begun the first pilot phase of the Fishermen Life Insurance Scheme (FLIS).

The scheme was launched in the country last year.

The first pilot phase is currently ongoing in the Greater Accra, Western and Central regions in selected landing beaches such as Half Assini, Axim, Elmina, Shama, Ankaful, Apam, James Town and Aplabanya.

The second pilot phase will cover Volta, Eastern, Brong Ahafo and Northern regions in selected landing beaches, including Woe and Adina, Dzemeni, Kpando, Abotoase, Nkwanta, Dambai, Bupe, Adawso, Akateng and Ekye Amanfrom.

FLIS is an innovative insurance product that seeks to provide insurance cover on the life of the fishermen and their fishing gears.

It can be seen as a financial inclusion scheme intended for artisanal fishermen who seem to have been excluded from the formal financial services due to their income levels, levels of risk, nature of their business or level of financial literacy. 

The dangers associated with the activities of the fishermen (marine and inland fishing) require the need for affordable and accessible microinsurance insurance solutions for them.