THE OBJECT OF THE INSURANCE

The risk of non-payment of salary rights due to the Romanian sailing crew aboard Romanian or foreign flag craft and against their impossibility to return home as a consequence of the previously-described situation.

INSURED RISKS

• non-payment by ship owners of salary rights due for a maximum period of two months to the Romanian sailing crew aboard Romanian or foreign flag craft, by means of the insured sailing crew agency, according to the individual employment contract perfected between the respective sailing crew and the ship owners;
• repatriation expenses of the sailing crew in the above-described situation.

TERRITORY

The insurance may be concluded only by crew manning agencies (Romanian legal persons or Romanian branches of foreign companies) who operate on grounds of the legislation.

LIABILITY PERIOD

The insurance period is of 12 months, but not less than six months.

INSURED AMOUNTS (LIABILITY LIMITS)

The limit of the liability of EUROINS is of maximum 100.000 USD per crew manning contract;

INSURANCE PREMIUM

The insurance premium shall be paid in full and in advance at the time of concluding the policy.
The insurance premium shall be paid in the same currency in which the insured amount is expressed or in lei, at the BNR exchange rate of the payment date.

OBLIGATIONS OF THE INSURED

To pay the insurance premium;
To notify EUROINS in written of the occurrence of the insured event, immediately after gaining knowledge thereof;
To notify EUROINS, in written, immediately after gaining knowledge about any change of the information provided on concluding the insurance.