The executive order stipulates a.o. that the shipowner shall take out insurance or provide other similar financial security for covering the shipowner’s liability towards seafarers and the masters in case of breach of the employment agreement.
For further information on the specific requirements, please see newsletter of 22 December 2016.
Claims which already are covered by public refunding systems are exempted from insurance or other similar financial security taken out by the shipowner. Declarations from the authorities which administer the public refunding systems shall be available to the seafarers on board the ship.
The authorities in question are:
- The Employees Guarantee Fund (Trygdargrunnurin fyri avreiðingar og lønir)
- The Faroese Maternity/paternity System (Barsilsskipanin)
- The Social Office (Almannaverkið)
- The Faroese National Health Insurance (Heilsutrygd)
- The Faroese National Board of Industrial Injuries (Føroya Vanlukkutryggingarráð)
The declarations are available here:
The Employees Guarantee Fund - declaration
The Faroese National Health Insurance - declaration
The Faroese Maternity/Paternity System - declaration
The Social Office - declaration
The Faroese National Board of Industrial Injuries - declaration
See the executive orders here:
Executive Order No. 4 of 6 January 2017 on Insurance or other Financial Security for Covering the Shipowner’s Liability towards the Seafarer and the Master in case of Breach of the Employment Agreement
Annex available here
Faroese Maritime Authority, 17 January 2017