WQIS to Release New Policy Form for 2014
On June 16, 2014 the Water Quality Insurance Syndicate (WQIS) will offer a new 2014 Worldwide Vessel Pollution Form. The new policy form will contain enhanced coverage that will follow the WQIS tradition of offering assureds the most comprehensive vessel pollution coverage in the industry. “We are constantly monitoring the market and researching how we can better support our assureds in an ever-changing world,” said Richard H. Hobbie III, WQIS President and CEO. Inclusion of State Fines and Penalties with an increased sub-limit to $1,000,000. 100% of Additional Public Relations coverage (formerly 80%). An increase in the Criminal Defense Limit without prior approval to $10,000; an increase in the per occurrence limit for Criminal Defense and the annual aggregate sub-limit to $100,000.
WQIS Marks 30th Anniversary
The U.S. has the most stringent, comprehensive marine pollution laws of any country on the planet. The last 30 years have marked an evolution from little legal enforcement to strict liability for marine pollution. One company, WQIS, a provider of marine pollution liability insurance in the U.S., celebrates its 30th anniversary this year. Two events proved pivotal in developing the United States' liability enforcement of marine pollution laws. In 1967, the Torrey Canyon spill off the Scilly Isles in England provided some of the most shocking images ever seen in marine pollution cleanup. Faced with an overwhelming spill and the inability to contain it, Royal Air Force fighter planes dropped napalm bombs in an effort to burn off the oil and sink the ship.
