Oil spills at sea cause great harm to the environment, to animals, and to humans. Whether they are due to carelessness or are tragic accidents, reparation must be made. To address this issue, in 2001 the International Convention on Civil Liability for Bunker Oil Pollution Damage was adopted, and it was enforced legally seven years later.
Often shortened to the Bunker Convention or just Convention, this liability coverage makes sure prompt and adequate remuneration is made after damaging spills at sea. Experienced insurance specialists say a Bunker Convention Certificate is proof of liability coverage and is required for specific maritime positions.
Liability After Spills
People who hold certain positions are legally held responsible after a maritime spill.
- Registered ship owners
- Charterers and managers of bareboat
- Operators of vessels weighing more than 1,000 gross tons
Ships carrying oil as a cargo must carry this maritime proof of liability.
Insurance in the marine pollution industry requires specific coverage elements. Look for insurance companies with specialized knowledge of Bunker Convention policies to make sure you have the right type and level of this sort of liability coverage. Cleaning up oil spills is expensive, and the damages are extensive. The right insurance protects you and others of all species impacted by spills.