February 28, 2019 — Several environmental advocacy groups including UN Environment and Oceana have partnered with major insurer Allianz to write guidelines that could help the marine insurance industry better detect and prevent instances of illegal, unreported and unregulated (IUU) fishing.
The newly issued risk assessment guidelines to marine insurers include a checklist of 18 warning signs to detect higher risk vessels and contracts, Oceana said in a press release.
In 2017, the UN Environment’s Principles for Sustainable Insurance initiative recruited several major insurers including Allianz, AXA, Generali, Hanseatic Underwriters and The Shipowners’ Club to join a statement to combat IUU.