Professor Soyer and Associate Professor Leloudas delivered a presentation to policy advisors, researchers and civil servants working at the Department for Environment, Food and Rural Affairs (DEFRA) on May 13th.
Their presentation explained the outcomes of their recently completed research project on “The Role of Insurance in Tackling Illegal, Unreported and Unregulated (IUU) Fishing” sponsored by Waterloo Foundation.
The empirical study, assisted by Dr Dana Miller (formally University of British Columbia now Oceana Europe), recommends that that to deter IUU fishing, access to insurance for those involved in it should be restricted.
The Study has already contributed to the development of the “Insurance Industry’s Statement against Illegal, Unreported and Unregulated (IUU Fishing)” co-sponsored by insurers such as Allianz AGCS, AXA, Hanseatic Underwriters, Generali and The Shipowners' Club.
However, it is advocated in the study that the most effective approach to the problem of IUU fishing would be the reform of European Union or (now) domestic legislation and putting providers of liability insurance under a clear positive obligation to refuse cover to those involved in IUU fishing. Following BREXIT, DEFRA is currently considering whether there is a need to take further regulatory action in this field.
Speaking after the event Professor Soyer and Associate Professor Leloudas commented
“The objective of the Institute of International Shipping and Trade Law (IISTL) is to engage in research that can inform policymaking. We are grateful to Waterloo Foundation for giving us this opportunity and financial support and to DEFRA (in particular Joanna Stapley, Policy Advisor) for the invitation. We sincerely hope that our conclusions will assist UK government in shaping the regulatory framework in this field going forward.”