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Fishermen's Contingency Fund Program
The Fishermen's Contingency Fund (FCF) was established to compensate fishermen for economic and property losses caused by oil and gas obstructions on the U.S. Outer Continental Shelf. The fund was established in the U.S. Treasury, without fiscal year limitation, as a revolving fund comprised of assessments paid by offshore oil and gas interests. Fishermen who can prove that they suffered losses in income due to inability or reduced capacity to fish as a result of the damage sustained may be eligible for compensation for economic loss and property loss or damage. Compensation for economic loss is based on 50 percent of gross income lost, rather than loss of profits.
The FCF requires commercial fishermen to file a report to the National Marine Fisheries Service within 15 days after the date on which the vessel first returns to port after discovering the damage or loss in order to gain presumption of causation. After this initial report is filed, a claim must be submitted within 90 days of the date the loss or damage was discovered. Claims should include specific vessel and crew information, a full statement of the circumstances concerning the damage or loss, the amount claimed for property damage or loss, a full statement of the type and extent of damage, and the amount claimed, with supporting documentation, for any economic loss.
Direct payments for claims totaled $188,168 for FY 2010, $126,608 for FY 2011, and $31,069 for FY 2012. Additional claims of $32,519 for FY 2012 have been approved but are waiting authorization for payment.
Financial Services Division (F/MB5)
National Marine Fisheries Service
1315 East West Highway
Silver Spring, MD 20910
CFDA Number: 11.408, Fishermen's Contingency Fund.