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Abstract

Commercial fishing, as carried on by the "down east" fisherman, is an industry fast succumbing to the economic inequities of vessel operation. Over the past two decades, the prices for fish boats have not increased as rapidly as the operating costs involved in fitting and maintaining the fishing vessel. Today, this situation has been compounded by the economic inability of the individual trawler owner to obtain protection and indemnity insurance to compensate crew members for injuries received during the course of maritime employment. The present consequence of these developments is that, although judicial and legislative regulatory guidelines have been set out, a consistent economic balance has not been achieved between the operating cost burden of the trawler operator and the maritime employee's need for compensation for personal injuries. As a result, trawler operators are being forced out of business by the costs of operation while employees must bear a substantial portion of the expenses accruing from injuries. The problem is not limited to New England fishing enterprises, but also exists on a national scale. This comment discusses some of the problems of maritime employers and employees in general and proposes a solution of the diverse needs of small commercial fishermen in particular. The basic problem is the failure or inability of marine insurers to provide a risk spreading mechanism that is economically feasible for all parties concerned. Therefore, the objective is to establish a method of insurance that provides adequate protection for maritime employees, at a reasonable cost to maritime employers, and with a reasonable margin of profit for marine insurers. Such a system would remove a severe economic burden on small fishing operations by bringing adequate insurance coverage within the economic grasp of that segment of the maritime industry.

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