Financial security for seafarers

International Maritime Organization (IMO) secretary-general Kitack Lim has welcomed the entry into force in January of new obligations under the Maritime Labour Convention (MLC 2006) which require shipowners to have compulsory insurance to cover abandonment of seafarers, as well as claims for death or long-term disability of seafarers. The 2014 amendments to the MLC 2006, which come under the auspices of the International Labour Organization (ILO), are based on guidelines which were developed by a joint IMO/ILO working group, which reported to both IMO’s legal committee and ILO’s governing bodies.