§44103 Financial Responsibility to Pay Liability for Death or Injury

Summary

Owners or charterers of vessels that fall under these rules must prove they can pay for death or injury claims for passengers or others on voyages to or from U.S. ports, following Federal Maritime Commission rules. The required amount depends on passenger accommodations: $20,000 for each of the first 500; $15,000 for each from 501 to 1,000; $10,000 for each from 1,001 to 1,500; and $5,000 for each above 1,500. If one company runs several covered vessels, the requirement is based on the vessel with the most accommodations. The money must be available to pay any judgment for death or injury. Owners can meet the rule with insurance, a surety bond from a bonding company authorized in the U.S., qualifying as a self‑insurer, or other proof the Commission accepts.