The Principle of Indemnity in Fisheries Insurance to Adjust the Interests of the Insured and Insurer

ABSTRACT : This research was conducted due to unresolved issues in previous studies. The unanswered problem is how to regulate the adjustment of interests between the insured and the insurer in order to fulfill the principle of indemnity. Therefore, the urgency of this study lies in determining the scope of implementation of the principle of indemnity and its regulation in aligning the interests of the insured and the insurer. The method used is normative legal research with a statutory and conceptual approach. The scope of fisheries insurance in this study is to transfer the risk of loss in the event of an incident occurring during fishing, fish farming, and salt production activities. The risks faced by fishermen, fish farmers, and salt farmers include the loss or damage of fishing, aquaculture, and salt production facilities; occupational accidents or loss of life of fishermen, fish farmers, and salt farmers; and other types of risks as regulated by the Ministerial Regulation. The causes of such risks include natural disasters, fish disease outbreaks, the impacts of climate change, and/or pollution.

KEYWORDS : Principle of Indemnity; Fisheries Insurance; Regulation; Insured; Insurer