For Shipping Companies

As of January 1st, 2020 UFDS has introduced a new method of premium differentiation, as the Board has determined a general basic premium and a basic premium per hazard class. The general basic premium for 2020 is DKK 18.00 per sailing day (assignment day) per person. The basic premium per hazard class appears in the table below. Further, a rate per shipping company and hazard class is calculated based on the risk profile of the individual shipping company.

Read more about the general basic premium for 2020 and the reason behind the premium increase here.

Premium for 2020 per person in DKK

Hazard Class

Premium for industrial injury per day
(incl. of foreign-flagged ships)

per year

Cargo

17.40

6,264.00

Offshore & Services

22.00

7,920.00

Passengers

19.60

7,056.00

Tank

15.40

5,544.00

Personal property liability
(same rate for all four hazard classes)

0.10

36.00

Contributions for 3rd parties 2020 per person in DKK

per day

per year

SSB

Health insurance (international journeys)

3.90

1,404.00

KSE

Compensation for war injuries

0.31

111.60

KSU

Compensation for war injuries, foreign-flagged

0.48

172.80

SAM

Health and safety contribution

3.32

1,195.20

VFA

Welfare contribution, DIS

2.70

972.00

VFB

Welfare contribution, DAS

1.40

504.00

 

Final premium rates 2019 per person in DKK

per day

per year

ASF

Industrial injury

14.00

5,040.00

FFF

Industrial injury, foreign-flagged ships

14.00

5,040.00

LØS

Personal property liability

0.10

36.00

Final contributions for 3rd parties 2019 per person in DKK

per day

per year

SSB

Health insurance (international journeys)

3,90

1,404.00

KSE

Compensation for war injuries

0.31

110.90

KSU

Compensation for war injuries, foreign-flagged

0.52

186.00

SAM

Health and safety contribution

3.32

1,195.20

VFA

Welfare contribution, DIS

2.70

972.00

VFB

Welfare contribution, DAS

1.40

504.00


Payment

In December UFDS sends out an assignment list for each policy, which must be filled in and returned with the actual number of sailing days and personnel numbers for the whole year. The final settlement is based on the returned assignment list, which is compared with the premium paid on account. Shipping companies should note that course days must be included in the total number of assignment days reported for the ship. List of sailing days.

Please note that UFDS is also required to collect a range of statutory and voluntary contributions from Danish Shipping (compensation for war injuries), the Danish Government’s Seamen’s Service (welfare contribution), Seahealth Denmark (health and safety contribution) and the Danish Maritime Authority (health insurance). 

All Danish shipping companies must pay these contributions, regardless of whether they have taken out industrial injury insurance with UFDS.

Premium rates 2015 to 2019 (industrial injuries per person/day in DKK)

Member shipping companies pay a premium on account twice yearly per enrolled ship. The premium on account is based on the personnel numbers and sailing days (assignment days) stated on the policy application. Premium rates are determined by the board and are sufficient to ensure UFDS a high degree of creditworthiness and liquidity in the event that a member shipowner is involved in an exceptional incident. This happens rarely, however, and members often receive a refund in the following year once the financial statements have been approved. Premium rates with repayment

For Seafarers

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For Shipping Companies

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About UFDS

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The Danish Shipowners’ Accident Insurance Association (UFDS)