Active Fishermen in the State are insured by the Kerala Fishermen Welfare Fund Board (KFWFB). The Group Insurance Scheme is implemented at a premium of 50 per person and other scheme is for fishermen against accidental death, heart attach (while fishing at sea), missing, permanent and partial disability. The compensation for death/missing/total disability is Rs. 1 lakh and for partial disability is Rs.  50,000. The annual insurance premium is shared equally by the Central and State Governments.

The implementing agency is Matysaboard.