Unpaid Crew Wages: New Seacurus Insurance
Seacurus has launched a new insurance policy to indemnify seafarers in the event of the financial default of their employers. CrewSEACURE is a new insurance product now available to all employers of seafarers required to satisfy new regulatory obligations under the Maritime Labour Convention 2006 and the International Guidelines on Seafarer Abandonment. The new policy, CrewSEACURE, provides up to USD10m of cover in the event of an employer’s financial default. It includes personal accident protection and covers medical expenses as well as subsistence and repatriation costs.
Seacurus Provides Industry First
Specialist marine insurance intermediary Seacurus launched a new insurance policy to indemnify seafarers in the event of the financial default of their employers which, for the first time, offers recompense in respect of unpaid crew wages. The policy will enable all employers of seafarers to meet their regulatory obligations under the Maritime Labor Convention 2006 (MLC), which enters force on August 20, 2013. The new policy, CrewSeacure, provides up to $10 million of cover in the event of an employer’s financial default.
