PRESS RELEASE

AIGAION Insurance Co S.A.: Qualitative insurance for tourist ships of less than 300 gt

Athens, April 24, 2014 - With its recognized expertise in marine insurance, AIGAION Insurance Co S.A. is ready to meet new insurance needs of tourist ships with a capacity of less than 300gt that creates the new law 4256/2014, which will be implemented by the country's port authorities until the end of April 2014.

AIGAION is leading to the new situation, as its cooperation with Lloyds of London and the insurance companies Arated of the British capital, enables it to offer the highest coverage (capacity) in the domestic market for liability insurance on those ships up to 500.000.000 USD. Also issues the necessary insurance certificates for use by the port authorities.  

At the same time the company has a high level of services and offers other quality coverages for the insurance of the vessel. Its contracts with unique conditions are addressed to each vessel owner (of all sizes) and offer complete insurance coverage.

It is noted that according to the provisions contained in Article 14 of the new law, ships with a capacity of less than 300 gt, must necessarily be provided with liability insurance for the following amounts:

Α. Civil liability for personal injury or death of persons on board and third from impact, collision, shipwreck or any other cause, 50.000 Euros per passenger, while the amount cannot be less than 500.000 Euros per event.

Β. Civil liability for property damages of persons on board and third from impact, collision, shipwreck or any other cause, 150.000 Euros.

C. Incur of marine pollution, 150.000 Euros.