Since the company’s creation, Seacurus has remained cognisant of the legal and political complexities that arise when a vessel is abandoned. Seafarer abandonment has been identified by the IMO /ILO international guidelines under Resolution 930 (22) as being the severance of ties between the shipowner and the seafarer.
Abandonment is deemed to have occurred when the master of a ship has been left without the financial means to continue the ship’s operation. For example - the shipowner fails to meet his obligations for repatriation costs, crew maintenance costs and payment of outstanding remuneration.
Seacurus has designed an insurance solution to this long running industry problem and has been working with Shipping Associations, Flag and Port states to develop a workable system of financial security which will protect the world’s seafarers from the often ruinous consequences of abandonment.
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