WQIS to Release New Policy Form for 2014

By Eric Haun
Friday, June 13, 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. “For 2014, we saw an opportunity to provide our assureds with even stronger coverage, and that is something we are always striving for.”

According to WQIS, the major changes of the 2014 Worldwide Vessel Pollution Form are as follows:

  • 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 said it will be prepared to discuss offering fines and penalties coverage outside the CSL for an additional premium by endorsement.

The new form has no change in any other conditions, warranties or exclusions from the 2011 form.

Starting June 16, 2014 any WQIS Policy that is in-force will be held covered under this new enhanced form and all new and renewal business after then will be issued on the 2014 Form. There will be no additional or return premium for this enhanced coverage.

wqis.com
 

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

WSC CEO Koch to Retire in 2015

Chris Koch, current president and CEO of the World Shipping Council (WSC), will retire from his position on July 31, 2015, and WSC Senior Vice-President and General Counsel,

Cecon Secures Finances to Complete Newbuild

Cecon ASA has petitioned for a debt restructuring agreement (in Norwegian: gjeldsforhandling). Certain funds managed by York Capital Management Global Advisors,

HII Board of Directors Elects Two VPs

Huntington Ingalls Industries’ (HII) board of directors has elected Kellye Walker to serve as corporate vice president and general counsel and Charles R. “Chuck” Monroe Jr.

News

WSC CEO Koch to Retire in 2015

Chris Koch, current president and CEO of the World Shipping Council (WSC), will retire from his position on July 31, 2015, and WSC Senior Vice-President and General Counsel,

NMEA Updates Installation Standards

2014 edition of NMEA 0400, Version 4.00 features extensive updates and new information   The National Marine Electronics Association (NMEA) has published Edition 2014, Version 4.

Port of Galveston to Repair Public Pier

Galveston Wharves’ board of trustees today unanimously approved a project to repair pilings and pier deck in the Pier 19 area of the port. The board awarded the contract,

Insurance

US Obamacare Impacts the Global Marine Industry

The Affordable Care Act (ACA), otherwise known as Obamacare, the recent healthcare plan in the United States, is affecting the international superyacht industry,

Even 'Small' Vessels are Getting Bigger

The Shipowners’ Club is a mutual provider of P&I insurance that has throughout its 160 year history been dedicated to serving owners of small and specialist ships.

Danish Investors Investigating OW Bunker Collapse

A group of the largest Danish institutional investors has initiated an investigation of the collapse of ship fuel supplier OW Bunker, they said in a joint statement on Wednesday.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1382 sec (7 req/sec)