A-16 Security deposit, Watercraft Liability Insurance, Premium

1 Abroad, the insurer provides a short term loan for a security deposit (bail) of up to 200,000 euros, at most up to the value of the insured watercraft, if an insured person is accused of having breached a traffic law provision 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 In this Premium tariff, the insurer's security payments are limited to 200,000 euros for all events of an insurance year. 3 Sums of money or loans advanced by the insurer must be repaid without delay after their reimbursement by third parties, but at the latest within one month of payment out. In the event of default, the outstanding amount bears interest at 8 per cent above the base interest rate.