Fisheries Insurance, Vessel Registration Bills Become Law
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With operating costs at an all-time high and fishing markets at an all-time low, two separate pieces of legislation aim to reduce operating costs and bureaucratic barriers for commercial fishermen. House Bill 116 and House Bill 31 both passed the Alaska House and Senate during the regular session, and last week Governor Mike Dunleavy allowed them to become law without his signature.
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The purpose of HB116 is to increase the availability of fishing vessel insurance. Specifically, it exempts Alaska-based commercial fishing insurance cooperatives from regulation by the State of Alaska.
“We heard from fishing vessel owners about the difficulties and excessive costs they have faced in getting adequate and reasonable insurance coverage,” says Senator Gary Stevens of Kodiak. “Pooling the needs of the insured is nothing new and has worked in other industries. We have not been able to solve all the problems facing this crucial part of our economy, but this is a small step in righting the industry.”
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Underwriters have been raising premiums on individual vessels and have become increasingly selective of which vessels they insure. The Joint Legislative Task Force Evaluating Alaska’s Seafood Industry, which Stevens chaired, found that rising costs and limited availability of insurance were barriers to operation for Alaska’s aging commercial fishing fleet.
The task force reported on its recommendations in January as the legislative session began, and HB116 was introduced at the request of the House Fisheries Committee.
“I am thrilled to see this legislation become law,” says Representative Louise Stutes of Kodiak, who served on the task force and chairs the Fisheries Committee. “Allowing local folks to band together to form commercial fishing insurance cooperatives will provide a more attractive, lower-risk alternative for underwriters, as well as lower costs for our fishermen.”
Stutes herself sponsored HB31 to remove a vessel registration requirement. She says it corrects an oversight in Senate Bill 92, which was enacted in 2018 to track derelict fishing vessels. Specifically, HB31 repeals a requirement for commercial fishing vessels to register with the Alaska Division of Motor Vehicles (DMV) every three years, even though the US Coast Guard already documents the vessels.
Stutes says, “Our hardworking fishermen and women should not be required to register at the DMV, at additional expense and frustration, only to provide the same information the state already has through the Commercial Fisheries Entry Commission.”
Stutes calls the reform a win for Alaska’s fishing fleet and an example of bipartisan legislation that cuts red tape while maintaining robust data on vessel ownership.
“A lot of these communities don’t even have a DMV. Alaska’s commercial fishing industry is facing historically challenging times, and I’m glad we could implement this small step to make getting started for the year a little easier,” she says.
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