WQIS Broadens Coverage

Friday, October 12, 2001
The U.S. has the most stringent marine pollution liability laws of any country on the planet. But now the states are making the laws even tougher for the marine community. WQIS, the Water Quality Insurance Syndicate, announces two new insurance endorsements to protect the marine community from increased state legislation.

WQIS provides a new option to cover state spill requirements even when they are broader in scope than the Federal Oil Pollution Act of 1990 (OPA 90). In the past, when a federal officer signs off on effective cleanup of a spill and a state official demands further cleanup, the assured has been unprotected for additional cleanup costs. WQIS' broader in scope coverage removes the gap that exists between new state requirements and federal legislation.

WQIS also provides a new option to cover state civil fines and penalties. In recent years, states across the country have become more active in writing laws dealing with pollution. As part of this development, they have been imposing a growing number of civil fines and penalties. Additionally, these civil fines and penalties have been for higher dollar amounts. The states of Texas and New York are among the more active in assessing fines. For example, on consecutive days, Texas recently assessed a spill penalty of $10,000 for a 3,000 gal. fuel spill from a dredge and $5,000 to a seafood operation for a discharge into Texas waters during a fuel transfer. Legislation is on the books in states like California and Maryland to assess penalties of $30 to $100 per gallon spilled, which can create assessment fines of millions of dollars. "We saw that many assureds were being hit with these fines and penalties on top of the more traditional ones and that it was creating a real hardship. With this coverage, we are helping to close a gap created by some states' new laws," says Rich Hobbie, the president of WQIS. To assist brokers and assureds in understanding the requirements of each state in which a vessel operates, WQIS launches a new website, www.wqis.com, with a powerful, interactive State Law Directory. Brokers and assureds can select a state and learn immediately if state requirements are broader in scope than federal requirements and find what remedies are available.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Almira, Ex. Dir. Palm Beach Port Honored by FCBF

Port of Palm Beach Executive Director Manuel Almira was inducted into the Florida Custom Brokers & Forwarders Association Hall of Fame. Mr. Almira was recognized

"K" Line Review of Medium-Term Management Plan

Kawasaki Kisen Kaisha, Ltd. (“K” Line) reviewed “K” Line Group’s medium-term management Plan, which was formulated in March 2015 as the business strategy toward our 100th anniversary in 2019,

Matson Announces Q2 Dividend of $0.18/Share

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders

Environmental

ICS Criticises 'Prestige’ Judgement by Spanish Court

At a meeting of the International Oil Pollution Compensation Funds (IOPCF) this week, the International Chamber of Shipping (ICS) has strongly criticised the judgement

Almira, Ex. Dir. Palm Beach Port Honored by FCBF

Port of Palm Beach Executive Director Manuel Almira was inducted into the Florida Custom Brokers & Forwarders Association Hall of Fame. Mr. Almira was recognized

ECSA Looks Forward to Improvement of Shipping Conditions in Arctic

European shipowners believe that the three priority areas of the new EU Arctic Policy Communication published by the Commission this week address all topical Arctic matters.

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0983 sec (10 req/sec)