«The fisheries sector is one of the most important sectors of the business fabric and it brings together specific risks that require specialised solutions»
José María Pedrosa Jamar
Director of Howden Pesca Norte
The insurance broker Howden is currently the only broker with a unit dedicated exclusively to fishing. Howden Pesca Norte was founded more than 25 years ago, having detected the need to offer this sector more specialised solutions given their greater exposure to risk. “The specific characteristics of the sector must be understood, analysed and resolved,” says José María Pedrosa Jamar, director of the unit.
Howden is the only insurance broker with a unit dedicated solely and exclusively to managing the interests of this sector. When and how did it come into being?
More than 25 years ago, as a result of detecting the needs of a specific sector, such as fishing, and thanks to our experience and specialisation, we are currently the only broker with a unit dedicated exclusively to fishing.
Why a unit dedicated to the fishing sector? Why are specialised solutions for the fishing industry necessary in the insurance field?
The fishing industry is one of the most relevant sectors of the business fabric and it brings together specific risks that require specialised solutions. We notice a higher risk exposure than other sectors, such as high frequency and accumulation of losses that may compromise the viability of the company in the event of incorrect risk assumption, as well as sector-specific particularities that need to be understood, analysed and solved.
«Howden Pesca is present in the main fishing ports of the world»
What type of companies do you work with and what is the particularity of the insurance required for each player in the sector?
Our focus is the fishing industry and everything that surrounds it; shipowners, auxiliary industry, shipbuilding, large fish-marketing companies, etc. All of this adapted to their size, presence and activity. We manage a fleet of more than 1,600 vessels, and Howden Pesca is present in the main fishing ports in the world where this fleet operates: Spain, Namibia, Argentina, Uruguay, South Africa, Ecuador, Peru, the Seychelles… and intermediate in practically all the Insurance Programmes of the main shipowners in the fishing sector.
What type of insurance does a tuna fishing vessel, for example, need?
Above all, it needs a policy for navigational risks, Protection and Indemnity (P&I), and onboard capture and merchandise. Each with their consequent extensions, depending on the specific typology of each risk, navigation area, campaigns, etc.
Contributing to the sustainability of the fisheries sector
Speaking of sustainability, how does Howden contribute to the sustainability of the fishing sector?
In 2019 the Howden Group created the Sustainability Committee and in 2021 we created a team dedicated to climate risks and resilience, analysing their potential impact on our clients’ income statement. We also support our shipowners in the transition to more sustainable alternative fuels, and keep them up to date with industry developments, from an insurance perspective, and with the various changes in the industry that might affect them.