NOAA Office of Sustainable Fisheries Disaster Insurance Program

Background

The Office of Sustainable Fisheries (OSF) of the National Marine Fisheries Service (NOAA Fisheries) supports consideration and resolution of national domestic policy issues, provides support to the regional fishery management councils, manages fisheries for Atlantic highly migratory species, and works with federal partners to ensure the safety of seafood sold in the U.S. OSF is a headquarters office and works closely with the five NOAA Fisheries regional offices and six science centers and in partnership with the councils, interstate marine fishery commissions, and states to ensure U.S. fisheries are sustainably managed. OSF also engages the fishing industry (both commercial and recreational), seafood dealers, environmental groups, other federal agencies, and academia to ensure sustainable fisheries, sustainable economies, and healthy and nutritious shellfish and finfish.

Project Description

The Academy will conduct a 12-month study to examine the feasibility, requirements, and key considerations associated with establishing a fishery disaster insurance program. The study will: 

• Evaluate policy, administrative, financial, and operational factors relevant to the potential development of a fishery disaster insurance program; 
• Consider existing fishery disaster assistance processes, potential alternative approaches to risk management, and the conditions under which an insurance-based model could be implemented; 
• Consider the roles of federal, state, and other stakeholders in the design and administration of a fishery disaster insurance program, as well as relevant legal, regulatory, and programmatic constraints; and  
• Identify options, assess tradeoffs, and outline practical considerations that would need to be addressed in order to establish and sustain such a program. 

The Academy has appointed a five-member Panel of Fellows to oversee and guide this study. Information on the Panel of Fellows and Study Team is provided on the next page. A final report will be completed by June 2027