A new law passed on July 24 will reduce regulatory red tape for Alaska's commercial fishing vessel owners by broadening options to purchase affordable insurance for their boats.

The legislation specifically strikes from state statutes a requirement that U.S. Coast Guard documented commercial fishing vessels must also register with the Alaska Division of Motor Vehicles every three years.

"Our hardworking fishermen and women should not be required to register at the DMV, at additional expense and frustration, only to provide the same information the state already has through the Commercial Fisheries Entry Commission," said House Fisheries Committee Chair Louise Stutes, R-Kodiak, a member of the Joint Legislative Task Force Evaluating Alaska's Seafood Industry.

Stutes, who had been working on the issue for six years, said she was thrilled to see the legislation become law. "Allowing local folks to band together to form commercial fishing insurance cooperatives will provide a more attractive, lower-risk alternative for underwriters, as well as lower costs for our fishermen," she said.

For vessel owners living in rural areas where there is no DVM office, that vessel registration requirement "was more of a headache; there was no point to it," she said.

Alaska Senate President Gary Stevens, R-Kodiak, said the legislation had been a priority of the Seafood Industry Task Force. "We heard from fishing vessel owners about the difficulties and excessive costs they have faced in getting adequate and reasonable insurance coverage," Stevens said.

"Pooling the needs of the insured is nothing new and has worked in other industries. We have not been able to solve all the problems facing thus crucial part of our economy, but this is a small step in righting the industry," he said. "It makes sense and has the potential to help a lot."