Parts of the requirements covered by Regulation 2.5, Standard A2.5.2 are covered by the act on the Employees' Guarantee Fund (Lønmodtagernes Garantifond (LG)), which is a statutory scheme covering masters and seafarers on board Danish ships if the general requirements of the act are met. The coverage of the Fund is independent on whether the employer has paid the mandatory contribution.
Parts of the requirements covered by Regulation 2.5 are, furthermore, covered by the following Danish public social security schemes covering masters and seafarers on board Danish ships: the health insurance scheme for seafarers as well as the sickness benefit and maternity/paternity benefit schemes for seafarers.
The owner of a Danish ship is required to take out insurance or provide other similar security meeting the requirements of Standard A2.5.2. Requirements covered by the LG or the above mentioned public social security schemes can, however, be exempted from the insurance or other similar security.
Proof of financial security under Standard A2.5.2 is, therefore, as regards Danish ships, constituted partly by a declaration from an insurance company or another provider of a guarantee that meets annex A2.1 of the Convention. If this declaration makes reservations as regards requirements covered by the LG or the above mentioned social security schemes, attached declarations from LG and the Danish Maritime Authority must also be carried on board the ship.