A-16 Security deposit, Watercraft Liability Insurance, Basis Plus

1 Abroad, the insurer provides a short term loan for a security deposit (bail) of up to 50,000 euros, at most up to the value of the insured watercraft, if an insured person is accused of having breached a traffic regulation of the law on administrative offences or of criminal law in connection with the operation of the insured watercraft, and this event leads to the seizure of the watercraft, so that a security deposit (bail) must be provided by operation of law or on the basis of official orders. 2 The insurer's security payments are limited to 50,000 euros for all events of an insurance year. 3 Sums of money or loans advanced by the insurer must be repaid without delay after they have been reimbursed by third parties, but at the latest within one month of payment. In the event of default, the outstanding amount bears interest at 8 per cent above the base rate of interest. German law applies to the contract. The German wording of the conditions alone is binding; this translation is provided for understanding only. Basis Plus, Part B: when does your insurance begin and end? What must you observe when paying the premium?