Fish Farmers' Perceptions and Interest in Aquaculture Insurance as a Resilience Tool Against Tropical Cyclones: A Case Study of Cyclone Freddy in Southern Malawi

ABSTRACT Climate change is one of the major threats to global food production systems, with aquaculture being particularly vulnerable. Despite the widespread use of insurance as a coping mechanism for natural disasters, its adoption in aquaculture remains minimal and often undocumented in developing countries. This study examined fish farmers' perceptions and interest in aquaculture insurance as a resilience tool against tropical cyclones, focusing on Cyclone Freddy in Southern Malawi. A mixed‐methods approach involving physical and telephonic surveys, focus group discussions and key informant interviews was conducted with 522 fish farmers across five districts from March to April 2024. Data were analysed using descriptive statistics and a binary logit regression model to identify factors associated with farmers’ interest in aquaculture insurance. Although 48.6% of farmers interviewed were aware of insurance concepts, none had specific knowledge of aquaculture insurance, despite experiencing significant losses from Cyclone Freddy. Key barriers included limited awareness and the lack of aquaculture insurance providers. However, most farmers expressed interest in insurance schemes. Interest significantly increased among male farmers, those with higher education levels, membership in farmers' associations, prior insurance knowledge and severe disaster experiences, while it declined with age ( p < 0.05). Fish stocks and ponds were identified as priority assets for coverage, with premium costs, trust in providers and government incentives as critical considerations. Developing accessible, sustainable aquaculture insurance frameworks is crucial to safeguarding investments, enhancing resilience and promoting sustainable aquaculture development in Malawi.