In 2016, Dana Miller was a research scientist at the University of British Columbia in Canada where she studied marine conservation issues. She often felt disheartened learning about depleted animal populations, degraded environments and generally negative outlooks for the future. So she embarked on some research that would contribute to a greater understanding of the problems and would also develop a strategy to solve them.

She contacted the IUMI Inland Hull, Fishing Vessels & Yachts (IFY) Committee and asked this question: “Why is the insurance world contributing to the malicious practice of illegal and unregulated fishing?”

At that time I was an IFY member and I thought it was an excellent question. And to be honest, I did not have the answer at that time – no one on our committee did. But it was a question we had to look at because insuring something that is illegal is forbidden by law in most countries. No premium income will justify the result of a negative outcome especially when it is related to overfishing, slavery and an enormous reduction in of one of the most important food sources that is relied upon by so many people.

And that started the ball rolling. So where are we now and what steps have been taken by the parties involved?

In no particular order:

• “Illegal, unreported and unregulated fishing - How can the insurance market help to reduce this practice?”. This was the first presentation about this important topic given during the IFY Workshop at the South African conference in 2018 by Paul Coxon, Marine Engineer Surveyor and Consultant, Paul Coxon and Associates cc, ZA- Cape Town.
   
• “Transforming Ocean Governance through improved Corporate Due Diligence”. –  a presentation in 2019 by Dana Miller at the Toronto conference.

• The Marine Insurance Statement against IUU fishing was developed by Oceana, the world’s largest international organisation for the preservation of our oceans, Principles for Sustainable Insurance (PSI), and several (international) insurance companies. The statement has already been signed by several large insurance companies. Accompanying guidelines have also been written “To Control or Mitigate the Risk of Insuring Vessels and Companies Associated with Illegal, Unreported and Unregulated (IUU) Fishing”, which you can find here. https://europe.oceana.org/assisting-ocean-stewardship-through-marine-insurance/

• NOA Fisheries - Countering IUU Fishing: Partnership for Sustainably Managed Fisheries. This partnership seeks to prevent IUU fishing while promoting sustainable management of critical marine species and ecosystems by building the capacity of partner country governments to effectively implement the PSMA. https://www.fisheries.noaa.gov/enforcement/countering-iuu-fishing-partnership-sustainably-managed-fisheries

• Combined IUU Fishing Vessel List: This site provides the best available, up-to-date information on all fishing and related vessels that appear on the illegal, unregulated, and unreported (IUU) fishing vessel lists published by Regional Fisheries Management Organisations (RFMOs) and related organisations. The aim of the site is to improve the effectiveness of the original IUU lists as a tool for a wide variety of stakeholders to better understand and combat illegal fishing and broader fisheries crime.https://iuu-vessels.org/

• LMA Lloyd’s – Circular JH2017/001 was published to warn all underwriters about these illegal practices. This was followed in March 2023 with the Fishing Vessel Due Diligence Clause JH2023-010

• ·Q&A: Oceana’s new anti-IUU fishing tool for the private sector. IUMI published a blog by  Thomas Bishop, Underwriter - Hull & War at QBE Insurance and Arielle Sutherland-Sherriff, Policy Assistant at Oceana in Europe on 31st August 2022 "Read more here"

• “Insuring Against Illegal, Unreported, and Unregulated Fishing: A Data Tool to Support Risk Assessments and Due Diligence”. In September 2022 during the IFY Workshop in Chicago Lindsay Getschel, Outreach and Engagement Associate at the Ocean Risk and Resilience Action Alliance presented a pilot version of the Global
  Fishing Watch tool and asked participants to register as volunteers to use this tool and give valuable feedback from the insurance market.
   
• In September 2023, during the IFY workshop, Neil Roberts gave a further presentation to draw the attention to IUU Fishing titled “Aspects of illegal fishing”.
   
• In October 2023 Global Fishing Watch publicly launched the Vessel Viewer tool. This vessel history tool was developed in partnership with TMT and uses satellite data and advanced analysis to produce current and historical information on vessel identity and activity. It is open access and makes Global Fishing Watch data and analysis accessible to all, empowering users to work more efficiently and effectively. It is an extremely useful tool for Marine and P&I brokers as well as insurers. You are free to contact Global Fishing Watch for more information and a password to start using the Vessel Viewer. 
  https://globalfishingwatch.org/

It goes without saying that underwriters and brokers have a responsibility to combat illegal fishing irrespective of where they live and work. I realise this is not an easy topic to discuss with clients, colleagues, directors, etc. but I hope that this overview will help you to explain the sense of urgency to your stakeholders and that it will help you to implement the available solutions.

If Dana Miller asks the same question again, at least we are able to have an answer and one that is, hopefully, positive for all of us.