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WQIS maintains this IMO Bunker Convention Status for your convenience. Check back for updates as additional States become party to the Convention.
All data is documented from the IMO website, http://www.imo.org.
Designed to capitalize on experience and expertise
March 26, 2010 (New York, NY)—Water Quality Insurance Syndicate (WQIS) announced today that they are moving into new premises at the end of this month. The move from 80 Broad Street to 60 Broad Street is being made, in part, to facilitate greater employee cross-functional access and communication.
This marine pollution insurance provider has been the expert in the industry for over 38 years. Management was interested in better utilizing the expertise of its seasoned employees, many of whom are vessel captains or come from marine military backgrounds. They hired architect Alan Gaynor + Co. P.C. to redesign the space for optimum contact between departments. Gaynor, who was responsible for the award-winning lobby design of the current WQIS headquarters, has their work cut out for them to one-up their last creation, which was modeled on the hull of a ship. The new sailboat-inspired teak lobby will once again be the center point, but the utilitarian functionality of the main workspace will be the real highlight.
“We wanted the perfect balance of aesthetics and function,” said Rich Hobbie, WQIS President and CEO. “Alan has masterfully accomplished that.” The brightly lit space is circular in feel with seamless transition from one department to the next. Functions that need to work closely are situated near each other. For example, underwriting and claims can more easily communicate because the footprints of their workspaces flow into each other. This allows for exponentially better service to their customers by utilizing all the years of practical experience of their employees. There is rarely a situation on the sea that someone at WQIS hasn’t encountered. Customers benefit because WQIS colleagues can more easily share their vast expertise. This new office design effectively makes a whole team of experts available to every WQIS customer.
Telephone, fax and email communication with WQIS remains the same. To contact them via mail, write to WQIS, 60 Broad Street, 33rd Floor, New York, NY 10004.
NEW BOARD CHAIRMAN AND VICE CHAIR AT WQIS
Bring Established Marine Industry Leadership
January 15, 2010 (New York, NY)—On December 1, 2009, Robert Gallagher became the Chairman of the Board for Water Quality Insurance Syndicate (WQIS), replacing Richard DeSimone in that top post.
Currently in the role of Chairman at International Marine Underwriters (IMU), a member of the OneBeacon Insurance Group, Mr. Gallagher brings over 25 years of experience in the marine insurance industry. He began his career with Continental Insurance Company and Royal Insurance Company and has held positions of progressive responsibility at OneBeacon since 2001.
A well-respected member of this industry, Mr. Gallagher is active in committees with American Institute of Marine Underwriters (AIMU) and International Union of Marine Insurers (IUMI), and has served as a member for several WQIS committees since 1994.
Mr. Gallagher earned a Bachelor of Business Administration from Kent State University and has completed post-graduate management programs with Wharton Business School and London Business School.
Elected to the post of Vice Chairman is James Nawojchik of Zurich Global Energy & Marine. Mr. Nawojchik is the Senior Vice President of Zurich Global Energy’s Marine Group. Based in New York, he is responsible for marine business written in the U.S. and London markets. He began his professional career at Great American Insurance Company in New York in 1987. He subsequently held positions of increasing responsibility at Switzerland Marine Managers, a division of Swiss Re, and the Home Insurance Company. Mr. Nawojchik is a graduate of SUNY Maritime College, Fort Schuyler, New York.
WQIS welcomes these two distinguished and capable leaders in their roles and looks forward to their partnership during their tenure.
About WQIS
WQIS is the largest U.S.-based underwriter of pollution liability insurance for marine vessels. With over 38 years in the industry, no one has more marine pollution insurance and spill response expertise, or offers more innovative coverage to the marine community. WQIS is dedicated to providing the broadest coverage and creating the most responsive organization to serve the needs of their clients.
News Release:
For Immediate Release
For more information, contact: Jeanine Debar at (212) 243-2022 x305 or jeanine@thejamesgroup.com
WQIS HOLDS COVERED WITH NO PREMIUM INCREASE
USCG Increasing Fines and Other Civil Monetary Penalties
January 8, 2009 (New York, NY) — The United States Coast Guard announced that effective January 23, 2010, they will be increasing fines and other civil monetary penalties to account for inflation in accordance with the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996.
Today, Water Quality Insurance Syndicate (WQIS) announces that as an accommodation to their Assureds, they are automatically holding covered – at no additional premium – the new limits under Coverage D (limited fines and penalties) until the policy expires. The adjusted maximum penalty amount authorized by the Federal Civil Penalties Inflation Adjustment Act and provided for in Coverage D is now $190,000.
When Congress established the fines and other civil monetary penalties for those who violated Federal Laws and regulations, they knew the deterrent value of those penalties would diminish over time as a result of inflation. To address this issue, they enacted the statutes referenced above. This Act requires Federal agencies to adjust their penalties for inflation at least once every four years using a nondiscretionary statutory formula. This rule is published without prior notice of proposed rulemaking or public comment period. On January 23, 2010, the fines and other civil monetary penalties assessed by the U. S. Coast Guard are being increased by an average of 19.12%.
For more information about coverage or policy expiration dates, contact Russ Brown, Executive VP, Chief Underwriting Officer at 212-292-8706.
About WQIS
WQIS is the largest U.S.-based underwriter of pollution liability insurance for marine vessels. With over 38 years in the industry, no one has more marine pollution insurance and spill response expertise, or offers more innovative coverage to the marine community. WQIS is dedicated to providing the broadest coverage and creating the most responsive organization to serve the needs of their clients.
Contracting States to the IMO Bunker Convention
per the IMO website as of January 6, 2010 are:
Antigua & Barbuda, Australia, Bahamas, Barbados, Belgium, Bulgaria, Canada, China, Cook Islands, Croatia, Cyprus, Denmark, Estonia, Ethiopia, Finland, Germany, Greece, Hungary, Ireland, Jamaica, Kiribati, Latvia, Liberia, Lithuania, Luxembourg, Malaysia, Malta, Marshall Islands, North Korea, Norway, Panama, Poland, Romania, Russian Federation, St. Kitts & Nevis, St. Vincent & Grenadines, Samoa, Sierra Leone, Singapore, Slovenia, South Korea, Spain, Tonga, Tuvalu, United Kingdom and Vanuatu.
Additional Flag States to the Convention are: Bermuda, British Virgin Islands, Cayman Islands, Gibraltar, Isle of Man and Macao.
About The IMO Bunker Convention
The International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001 (IMO Bunker Convention) establishes shipowner liability for spills of oil when carried as fuel in ships’ bunkers. All vessels over 1,000 gross tonnage for the waters of the signatory nations and for all signatory flag vessels must carry and produce a certificate certifying that it has insurance or other financial security to cover the liability of the registered owner for pollution damage in an amount equal to the limits of liability under the applicable national or international limitation regime.
WQIS maintains this IMO Bunker Convention Status for your convenience. Check back for updates as additional States become party to the Convention.
All data is documented from the IMO website, www.imo.org.
News Release:
For Immediate Release
For more information, contact:
Jeanine Debar at (212) 243-2022 x305
or jeanine@thejamesgroup.com
WQIS ANTICIPATES NEW COFR LIMIT INCREASE
Will Amend COFR Compliance with USCG on Assureds’ Behalf
July 8, 2009 (New York, NY)
Limits of liability for vessels under OPA 90 are set to increase again on July 31, 2009 by a notice in the U.S. Coast Guard Federal Register/Vol. 74, No. 125/Wednesday, July 1, 2009 to reflect significant increases in the Consumer Price Index (CPI).
Anticipating these changes, Water Quality Insurance Syndicate (WQIS) will be amending its financial responsibility (CG 5586 and or CG 5586-1) with the Vessel Certification Branch of the USCG National Pollution Funds Center on behalf of all WQIS assureds for which evidence is currently provided. The only exceptions are assureds who have not purchased limits that are equal to or greater than the new limits shown below.
WQIS is automatically holding covered the new per gross ton limits until the policy expires, but only up to the current policy limit purchased. This may mean that the assured will not have the higher limit. For instance, if $5,000,000 is currently purchased on any vessel other than a tank vessel (current limit is greater of $950 per gross ton or $800,000) and the new limit is the greater of $1,000 per gross ton or $854,400, we will hold covered the $1,000 per gross ton, but only up to $5,000,000. For the higher limits the broker must contact an underwriter and obtain a hold covered.
Additional limit in some cases will require an additional premium.
In the event a WQIS assured has not yet obtained the sufficient limit to fulfill the new requirements, please contact your WQIS underwriter immediately.
About WQIS
WQIS is the largest U.S.-based underwriter of pollution liability insurance for marine vessels. With over 38 years in the industry, no one has more marine pollution insurance and spill response expertise, or offers more innovative coverage to the marine community. WQIS is dedicated to providing the broadest coverage and creating the most responsive organization to serve the needs of their clients.
Addresses New Permit Liabilities Under National Pollution Discharge Elimination System
June 16, 2009 (New York, NY)–In 1977 the Congress enacted the Clean Water Act and for over 30 years the EPA regulations excluded vessels from the system of permits required under the National Pollution Discharge Elimination System (NPDES). Lawsuits by environmental interests challenged this exclusion and as of December 19, 2008 this exemption has been eliminated. All vessels with discharges of pollutants incidental to their normal operation within the U.S. three-mile territorial sea or inland waters need permit coverage under the Vessel General Permit.
The types of discharges are not limited to ballast water but incorporate approximately 28 discharge types. These discharge types include deck washdown and runoff, bilge water, antifouling hull coating leachate, aqueous film-forming foam, boiler blowdown, cathodic protection, chain locker effluent, fire main systems and various other graywater and effluents.
The permit is required for all vessels with the exception of recreational vessels. Fishing vessels and commercial vessels less than 79 feet in length have been granted a two-year moratorium (until July 10, 2010). Please note that the moratorium does not remove all Clean Water Act liability from the recreational, fishing and small commercial vessels.
The permit automatically applies to vessels now, but the permittee must also file a Notice of Intent if the vessel is greater than 300 gross tons or has a ballast water capacity of at least 8 cubic meters (2113 gallons). The EPA has activated its electronic Notice of Intent web site on which vessel operators may begin to file the NOI. The site can be found at http://cfpub.epa.gov/npdes/vessels/enoi.cfm. All subject vessels are required to file their Notice of Intent no later than September 19, 2009.
Individual states and Native American Tribes can establish additional water quality standards and it is important to note that standards may vary from state to state. Exceeding an effluent limit is a permit violation and the violation will require the permittee to take corrective action. For minor changes the corrective action must be taken within two weeks. Major changes requiring new parts are required within three months and major renovations are required before re-launching from the next dry-docking.
There are requirements for routine vessel inspections, broader annual vessel inspections, record keeping and reporting.
The law allows for civil, administrative and criminal fines and penalties. In addition, other criminal enforcement is allowed.
WQIS has now reviewed the matter and concluded that insurance coverage can play a significant role in protecting vessel operators from portions of this new liability.
The new WQIS Vessel General Permit Policy 2009 provides:
1. Indemnity for certain civil, administrative and criminal penalties that may be assessed for violation of the Vessel General Permit for insured vessels;
2. Reimbursement for certain corrective action required under the permit; and
3. Investigation and defense of insured liabilities.
In general the policy excludes:
1. Corrective actions covered by any other insurance policy.
2. Corrective actions arising from wear, tear and gradual deterioration.
3. Knowing violations and false statements.
4. Failure to file a Notice of Intent.
5. Aquatic Invasive Species.
6. Failure to establish self-monitoring, inspection, record keeping or reporting systems.
7. Failure to comply with education and training requirements for maintenance, monitoring and reporting.
The policy will provide a limit for each violation and will be subject to an annual aggregate limit.
This policy will be a standalone policy and it will be a requirement of WQIS that the vessels be insured by WQIS under the WQIS Policy Form 2007 prior to binding the Vessel General Permit Policy 2009 unless specifically negotiated by the broker and agreed to by WQIS.
Please contact your underwriter for details.
Download the full Vessel General Permit Policy
About WQIS
WQIS is the largest U.S.-based underwriter of pollution liability insurance for marine vessels. With over 38 years in the industry, no one has more marine pollution insurance and spill response expertise, or offers more innovative coverage to the marine community. WQIS is dedicated to providing the broadest coverage and creating the most responsive organization to serve the needs of their clients.
Richard H. Hobbie III, President and CEO of Water Quality Insurance Syndicate (WQIS), answers questions about the IMO Bunker Convention and the impact it may have on cargo fleet.
Especially valuable as additional countries adopt Convention
April 23, 2009 (New York, NY)
On November 21, 2008, The International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001 (IMO Bunker Convention) entered into force establishing shipowner liability for spills of oil when carried as fuel in ships’ bunkers.
In the months since its inception, 12 additional countries have adopted the Convention, bringing the total number to 38. Importantly, this affects 75.5% of world tonnage*.
Water Quality Insurance Syndicate (WQIS) is authorized by the majority of the flag states to provide the financial guarantee needed to obtain the certificate vessels must produce in compliance of this Convention. True to form, WQIS remains ahead of its competitors in anticipating the needs of the maritime community by making this guarantee available. Providing the guarantee for vessels flagged outside of the United States also enters WQIS into the global marketplace.
Recently signed states to the IMO Bunker Convention include:
State Effective Date
Tuvalu April 12, 2009
Panama May 17, 2009
Ethiopia May 17, 2009
Russia May 24, 2009
Australia June 16, 2009
*Source: Lloyd’s Register/Fairplay World Fleet Statistics 31 December 2007
About The IMO Bunker Convention
The International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001 (IMO Bunker Convention) establishes shipowner liability for spills of oil when carried as fuel in ships’ bunkers. All vessels over 1,000 gross tonnage for the waters of the signatory nations and for all signatory flag vessels must carry and produce a certificate certifying that it has insurance or other financial security to cover the liability of the registered owner for pollution damage in an amount equal to the limits of liability under the applicable national or international limitation regime. Contracting States to the Convention per the IMO website as of March 31, 2009 are: Antigua & Barbuda, Australia, Bahamas, Bulgaria, China, Cook Islands, Croatia, Cyprus, Denmark, Estonia, Ethiopia, Finland, Germany, Greece, Hungary, Ireland, Jamaica, Latvia, Lithuania, Liberia, Luxembourg, Malaysia, Malta, Marshall Islands, Norway, Panama, Poland, Russia, St. Vincent & Grenadines, Samoa, Sierra Leone, Singapore, Slovenia, Spain, Tonga, Tuvalu, United Kingdom and Vanuatu. Additional Flag States to the Convention are: Cayman Islands, Isle of Man and Macau.
About WQIS
WQIS is the largest U.S.-based underwriter of pollution liability insurance for marine vessels. With over 38 years in the industry, no one has more marine pollution insurance and spill response expertise, or offers more innovative coverage to the marine community. WQIS is dedicated to providing the broadest coverage and creating the most responsive organization to serve the needs of their clients.
