The Bad Cost Tracking industry…. looks like a challenge for Axa & Spheric Research………

The shrimp industry, the most valuable species within aquaculture measured by global revenue, is effectively un-insurable because of dubious farming methods and high levels of disease?

OMG – what are the markets doing about this ? Dubious farming methods? Mark & Spencers UK? Sainsbury’s? Walmart? What – is BAP/GAA certified not insurable? What about ASC. High levels of disease….help AMR – antimicrobial resistance.

What about insurance post harvest – cold chain, discovery of antibiotics in meat, recalls on food safety?

I don’t think this reporting reflects reality and shows how out of touch insurance and bankers are from industry.

Shrimp industry is high risk high reward – so not really AXA territory – and effectively is managed as self-insured.

High levels of potential for disease – maybe, but manageable with simple good husbandry.

Its not about dubious farming methods – certifiable to anything is possible in the industry.

Transparency has been available for decades with preferred suppliers. Of course the cheap stuff could be iffy – cowboys in industry,

Prawn farming as it currently stands is self insured……not for the faint hearted.

Insurance companies should stick to their strategies but don’t expect the industry to turn from being a high risk high reward industries to be involved in – not for the faint hearted the industry tends to be sufficiently successful (global Trade figures) and staying basically being self insured – no requirement for controls proposed.

Nothing is that quantifiable (yet!) in nutrient rich shrimp culture water.

The subject of insurance in shrimp farming was broached decades ago – and discarded. The shrimp industry, the most valuable species within aquaculture measured by global revenue, is effectively uninsurable because of dubious farming methods and high levels of disease.

https://www.undercurrentnews.com/2020/01/09/most-of-the-aquaculture-industry-as-it-currently-stands-is-uninsurable-axa-says/