New Law Tackles Soaring Insurance Rates for Alaska Commercial Fishermen
Commercial fishermen in Alaska will soon have a new option to bring down a cost that has skyrocketed in recent years: crew and vessel insurance.
The state legislature passed a bill earlier this year that allows Alaska fisherman to create insurance pools, or co-ops, that typically offer lower insurance rates. The bill became law last week without a signature from Gov. Mike Dunleavy.
The new law was prompted by soaring insurance rates and reduced insurance availability, both of which are among a long list of challenges facing commercial fishermen...
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