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

People & Company News

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Vale Financials Disappoint; Iron Ore Prices, Currency Cited

Brazil's Vale posted a surprise loss of $1.44 billion on Thursday, hurt by a fall in the price of iron ore, higher production costs and a weakening Brazilian currency.

News

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Vale Financials Disappoint; Iron Ore Prices, Currency Cited

Brazil's Vale posted a surprise loss of $1.44 billion on Thursday, hurt by a fall in the price of iron ore, higher production costs and a weakening Brazilian currency.

Insurance

Monitoring U.S. Troops Returning from Ebola Mission

Secretary Hagel has signed an order that validated a recommendation from the Joint Chiefs of Staff to place all U.S. military service members returning from

UK P&I Club: 6.5% General Increase for 2015

The UK P&I Club board has agreed at its meeting on October 27, 2014 that the general increase for the 2015 renewal will be 6.5%. The premium rating increase

WTO Publishes Annual Package of Trade and Tariff Data

The WTO released on 28 October 2014 new editions of its key statistical publications: International Trade Statistics, Trade Profiles, World Tariff Profiles and Services Profiles.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1323 sec (8 req/sec)