Both houses of the Alaska legislature have unanimously passed a bill that would allow commercial fishers to form insurance co-ops, helping them secure more affordable insurance options.
Commercial fishers in Alaska have complained that it is increasingly difficult for them to secure insurance, especially for smaller and older vessels.
“Insurance costs have risen sharply in recent years and represent an increasingly significant part of annual operating costs for fishermen,” Pacific Seafood Processors Association President Julie Decker said in a statement supporting the legislation. “The seafood industry often does not fit the regulatory or policy framework for other businesses, and the insurance options for Alaska’s fishermen are fairly limited. Some of Alaska’s fishing fleets have found a way to create associations for joint coverage, and we believe the State should support those efforts.”
To get around those insurance limitations, Alaska lawmakers have proposed a bill that would allow ...
