SUPERSTORM SANDY UNINSURED LOSSES FOR NY AND NJ FISHING INDUSTRY ESTIMATED UP TO $198 MILLION

NOAA

As part of their recent newsletter, the NMMA shared that the National Oceanic and Atmospheric Administration's (NOAA) Fisheries Service released the results of its rapid appraisal effort on the impacts of Superstorm Sandy on the commercial and recreational fisheries of New Jersey and New York.

The assessment considered impacts and uninsured losses for the bait, for hire, dealer, harvester, marina, and processor sectors. Uninsured losses for the two states are estimated to range from $155 to $198 million, with the average insurance coverage in New York at 35% and in New Jersey at 24%, indicating that insurance coverage for the fisheries sectors in the region was insufficient. Five million dollars in fisheries relief funding was included in the Superstorm Sandy Disaster appropriations bill, signed into law in January 2013.

NMMA will continue to provide updates as recovery and aid continues.

Related Posts

Good Advice that You Can Share – The Art of Anchoring  

Unless a boat is secured, it will drift away. If it cannot be attached to something secure, such as a dock, piling, mooring buoy, tree, or boulder, it must be anchored. There is much more to anchoring than simply tossing the anchor over the side. 
 
An anchoring system has two parts: the anchor itself and the rode which connects the anchor to the boat. To be effective, an anchor must have good holding power, and the rode must be strong enough to withstand the strains that are put on it. 

Read More

Changing Scene

Need to Catch up on News This Week?

Every Tuesday we publish a fresh Digest with informative articles pertaining to the Canadian boating and marine industry. Stay up to date with the latest products, research and industry developments.

Missed an Issue of Boating Industry Canada News Week? If you’re looking for a specific issue, or simply want to catch up on previous issues, check out our Boating Industry Canada News Week Archives.

Not signed up for News Week? Subscribe here.

Just Launched

Rayglass 2400 makes its Australian debut at the 2026 Sydney Boat Show

Rayglass Boats, a Brunswick Corporation (NYSE: BC) brand and a globally recognized designer and manufacturer of premium power boats, today announced that Australian boaters will get their first chance to see the Rayglass 2400 it in person for the first time. Queensland Marine Centre will bring the 2400 to the 2026 Sydney Boat Show, running 30 July – 2 August at Sydney Showgrounds, Sydney Olympic Park at Stand D104. The next generation 2700 will also be on display.

Read More

ePropulsion Enters Powered Kayak Fishing Market with Innovative kLite Electric Outboard

ePropulsion Americas, the global leader in marine electric propulsion systems and services, has announced that it is entering the powered kayak market with the all-new kLite 750 electric outboard. Building on the award-winning technology that shattered convention with the highly portable eLite, the kLite 750 is powerful, but contained in a lightweight and compact form factor ideal for recreational or fishing kayaks alike.

Read More

People