Financial security requirements under the MLC2006, as amended

On 18 January 2017 the amendments to the Maritime Labour Convention 2006 will enter into force. This means that ships to which the convention applies need to have a financial security in place in respect of certain of the shipowner’s liabilities. Two certificates attesting that the required financial security is in place shall be carried and displayed onboard from the same date. Alandia will be able to issue the required certificates to help its P&I Assureds meet the financial security requirements under the amended MLC.

Our Circular 16-04 contains more information on the financial security requirements, the process of issuing MLC certificates and the wording of our “Additional cover in respect of Maritime Labour Convention”.