Pollution Liability Insurance News

Harry Diamond, Vice President and Chief Claims Officer at WQIS, is celebrating 21 years with the company this year. Diamond is a graduate of LaSalle University with Bachelor of Arts degrees in social studies education and history; he also holds an Associate degree in Risk Management. He began his insurance career right out of college when he was hired by a brokerage firm whose main client was Keystone Shipping Company. Diamond continued with the firm for four years until he changed his career path because of “an itch that needed to be scratched” – his desire to be a teacher. For the next six years, Diamond taught eighth grade at St. Mary’s Interparochial School in the Society Hill area of Philadelphia, Pennsylvania.

Safe Harbor Pollution Insurance broadens panel of security, increases marine pollution capacity    Vessel pollution liability insurance company Safe Harbor Pollution Insurance announced it has expanded its carrier partnerships to include Berkshire Hathaway Specialty Insurance Company (BHSI) and Argonaut Insurance Company.   With this expanded panel, Safe Harbor said it has more than tripled its in-house capacity. BHSI, which carries a financial strength rating of A++ from AM Best, and Argonaut, rated A by AM Best, join A rated Starr Indemnity & Liability Company on the Safe Harbor panel.   Safe Harbor Pollution Insurance is a member of the Falvey Insurance Group, a MGA group specializing in cargo, yacht and marine pollution.

An interview with Rich Hobbie, the leader of the Water Quality Insurance Syndicate (WQIS), the largest underwriter of pollution liability insurance for marine vessels in the United States. Can you give our readers an overview of your business today. The Premium income and growth factors in the marine insurance industry are very stagnant right now. And competition is quite heavy in all areas. In the U.S. market and in the marine market in general, there are new players. The London market has gotten more aggressive over here.

The Water Quality Insurance Syndicate said that Ryan Puttick joined the team as Assistant Vice President of Claims. He brings almost a decade of extensive marine insurance claims knowledge and experience to this industry pioneer. “We are extremely excited to have Ryan join us,” says WQIS President & CEO Richard Hobbie. Ryan Puttick came to WQIS from Charles Taylor P&I Management, Inc. Standard P&I Club where he was the Claims Director for the past 9 years. Puttick received his Juris Doctor from New York Law School in 2004 and was admitted to the Bar in the States of New York and New Jersey that same year. He graduated in 2000 from the United States Merchant Marine Academy with a Bachelors of Science in Marine Transportation.

WQIS has learned that even market leaders and pioneers need to stay dynamic and never get complacent. Shaking things up can break barriers for even the strongest organizations. By insuring some 35,000 vessels, across every major waterway in the US, WQIS says it has earned the backing of 16 of the largest insurance companies in the United States. For a company with these credentials, it would be easy to settle into a routine. “Just because we’re the market leader does not mean we can get comfortable in our position,” says WQIS CEO, Richard Hobbie. “We are always setting new goals for ourselves to be the ultimate resource for our clients. In the last few months, there has been an influx of talent to support the strength of WQIS, especially the underwriting and claims departments.

John Moy has joined the team at Water Quality Insurance Syndicate as Vice President of Underwriting. John will lead the WQIS underwriting department. John came to WQIS from Crum & Forster where he served as the Vice President of United States Fire Insurance Company for the past five years. Previous to his tenure there, he was the Regional Underwriting Manager at XL America, working in marine and offshore energy insurance. With a Bachelors of Science in Marine Transportation from Kings Point, Moy started his career as a naval architect before becoming a marine liability insurance underwriter. He also honorably served as a Lieutenant Commander in  the US Naval Reserve until 2012.

On July 11, 2006 the President signed into law Title VI of the Coast Guard and Maritime Transportation Act of 2006, which increased the limits of liability for vessels under OPA 90. It also split the tank vessel category into single and double hulls with single hulls having higher limits. Those limits went into effect in 2006. However, the requirement for evidence of financial responsibility required to obtain a Certificate of Financial Responsibility (COFR) was not increased at that point. Meaning, existing COFRs remained valid. By a notice in the Federal Register/Vol. 73, No.181/Wednesday, September 17, 2008 the Coast Guard promulgated regulations implementing the new COFR regulations to take effect from January 15, 2009. As of that date, the financial guaranty or insurance to the U.S.

The Water Quality Insurance Syndicate was recently honored by a small flag raising ceremony as its flag was hoisted high atop the Peking, a retired vessel permanentlydocked as part of the South Street Seaport Museum in lower Manhattan. the South Street Seaport museum. States, and is dedicated to providing the broadest coverage in marine pollution liability and creating the most responsive organization to serve the needs of its clients. powered only by wind. manufactured goods to South America and to return via Cape Horn with nitrate. and towed to her current home at Pier 16. as tall as an 18-story building, the Peking is one of the largest sailing vessels ever built and the largest preserved by a museum. The Peking is open to visitors of the museum daily from 10am to 6pm.

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.