C4.2.2.d. How seafarers know that they are covered by a financial security system which provides compensation for death and long-term disability

The Convention provides that all ships are required to carry on board a certificate or other documentary evidence of financial security issued by the financial security provider [see Appendix A4-I of the Convention, which details the requested information that shall be included in the certificate or the other documentary evidence]. A copy shall be posted in a conspicuous place on board where it is available to the seafarers. Where more than one financial security provider provides cover, the document provided by each provider shall be carried on board. National laws and regulations shall ensure that seafarers receive prior notification if a shipowner’s financial security is to be cancelled or terminated. In addition, the financial security shall not cease before the end of the period of validity of the financial security unless the financial security provider has given prior notification of at least 30 days to the competent authority of the flag State.

Shipowners’ liability