Posted: Friday, March 26, 2010
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.
Posted in Press Releases
Posted: Friday, January 15, 2010
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.
Posted in Press Releases
Posted: Monday, January 11, 2010
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.
Posted in Press Releases
Posted: Wednesday, July 8, 2009
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.
Posted in Press Releases
Posted: Tuesday, June 16, 2009
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.
Posted in Press Releases
Posted: Monday, April 27, 2009
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.
Posted in Bunker Convention, Press Releases
Posted: Thursday, March 12, 2009
Marine Pollution Insurance Leader to Examine Impact of Industry Issues
March 12, 2009 (New York, NY)—Members of the executive team at Water Quality Insurance Syndicate (WQIS) are scheduled to speak at several industry conferences on current and upcoming issues affecting the maritime industry.
Over the past three decades, the U.S. and international maritime communities have significantly augmented their attention on the importance of protecting the world’s waters from pollution. While anyone in the industry is well aware of the passage and impact of legislation such as OPA 90, many are less familiar with more recent developments such as the IMO Bunker Convention (International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001).
Well respected for their expertise and foresight in matters concerning marine pollution insurance, WQIS executive team members will share his insights on the impact recent industry changes, such as the IMO Bunker Convention, have had and will have on ship owners, ship masters and insurance brokers.
Upcoming WQIS speaking engagements:
What: Las Vegas Marine and Energy Seminar
WQIS Executive Speaker: Richard H. Hobbie III, President & CEO
When: April 26–29th, 2009
Where: Loews Lake Las Vegas Resort, 101 Montelago Boulevard, Henderson, NV 89011
For More Information: http://www.ligecs.com/allSem.asp
What: AIMU Marine Insurance Issues
WQIS Executive Speaker: Richard H. Hobbie III, President & CEO
When: Wednesday, May 6, 2009
Where: Marriot Marquis, 1535 Broadway, New York, NY 10036
For More Information: http://www.aimu.org/MARINE%20INSURANCE%20ISSUES/MarInsIssProgram09.htm
What: Marine Insurance Association of Seattle Day Of Education
WQIS Executive Speaker: Andrew J. Garger, Vice President, Legal & General Counsel
When: Wednesday, May 6, 2009
Where: Grand Hyatt Seattle, 721 Pine Street, Seattle, WA 98101
For More Information: http://www.miaseattle.org/day_of_education.htm
What: The Tampa Bay Mariner’s Club
WQIS Executive Speaker: Richard H. Hobbie III, President & CEO
When: Wednesday, May 20, 2009
Where: Mahaffey Theater at Progress Energy Center, 400 First Street South, St. Petersburg, FL 33701
For More Information: http://www.tbmcinc.org/default.htm
What: Offshore Marine Service Association (OMSA) Legal Forum
WQIS Executive Speaker: Richard H. Hobbie III, President & CEO
When: Thursday, November 19, 2009
Where: The Westin New Orleans Canal Place, 100 Rue Iberville, New Orleans, LA 70130
For More Information: http://www.offshoremarine.org/news.html
For general information about WQIS or marine pollution insurance, contact them at 212-292-8700.
About WQIS
WQIS is the largest U.S.-based underwriter of pollution liability insurance for marine vessels. With over 37 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.
Posted in Press Releases
Posted: Friday, November 21, 2008
OFFERED AT NO CHARGE WITH ALL EXISTING AND NEW POLICIES.
November 21, 2008 (New York, NY)
The IMO Bunker Convention enters into force today, impacting a great number of vessel owners and operators. The International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001 establishes shipowner liability for spills of oil when carried as fuel in ships’ bunkers. All ships 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 the ship 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.
This addresses a significant gap in compensating victims of oil spills, as existing international regimes covering oil spills do not include bunker oil spills from vessels other than tankers. To date, 26 IMO Member States have recognized its importance and have ratified the Convention.
Water Quality Insurance Syndicate (WQIS) has been preparing for this event since 2007 when the last of the required 18 member states adopted the Convention. WQIS is proud to announce that they are authorized by the majority of the flag states to provide the certification of financial guarantee that vessels need to produce. Further, the required certificate is provided without charge to WQIS policyholders.
This is a perfect fit for WQIS who, as the preeminent provider of marine pollution insurance, is passionate about protecting the sea and the owners and operators of marine vessels. “With more than half of the vessel spills resulting from incidents involving ships not carrying oil cargo, this protocol is an important addition to further protect the world’s waters. We’re pleased to participate in its actualization,” says Richard Hobbie, CEO of WQIS.
About WQIS
WQIS is the largest underwriter of pollution liability insurance for marine vessels in the United States. 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.
Download IMO Bunker Convention Information
______________________________________________________________________________________________________
Contracting States to the Convention
(per the IMO website as of March 31, 2009)
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.
Posted in Bunker Convention, Press Releases
Posted: Monday, June 4, 2007
In 1971 WQIS invented the marine pollution liability policy.
In 2007, we reinvented it.
Today’s marine industry is not the industry of yesterday. Government regulations, environmental changes and an increasingly difficult business climate make it impossible to keep doing “business as usual.” Recognizing the need for change, the Water Quality Insurance Syndicate (WQIS) has created its 2007 Policy Form. The overall policy has been simplified by including and clarifying several endorsements while the coverage itself has been expanded, making it the most flexible and complete insurance coverage for today’s marine industry.
Download 2007 Policy Form
Posted in Press Releases
Posted: Tuesday, August 1, 2006
WQIS has historically written Scrappers, Builders and Repairers risks for their liabilities arising from spills and threats of spills. In order to accomplish this end, Yard operators had to purchase three separate policies from WQIS. WQIS now has created a new policy form, Blue Yard Boat/Ship Yard Form 2006 which combines all of the previous polices into one and expands and clarifies the coverage.
“Ship Yard owners and operators were constantly faced with having to purchase three separate policies to be properly covered. After hearing their concerns, we decided to act, devising a policy that offers the strongest possible coverage for the Boat and Ship Yard industry in the most direct, effective manner.” Richard Hobbie, President, WQIS.
Policy Details:
Legal liability arising from the discharge or the substantial threat of discharge as follows:
- Liability for vessels owned and/or operated by the Yard;
- Vessels being worked on where the yard has become liable because the vessel is in its care custody or control;
- Liability for vessels not owned, operated or under the care custody or control of the yard (except for completed operations);
- Delivery and trial trips;
- Investigation and defense;
- Public relations;
- Administrative fine and penalties under the Oil Pollution ACT of 1990 for the vessel
- Discharges;
- Cleaning Decks and surfaces of vessels; and
- Mitigation of Losses
Those dealing with the vessels including activities such as:
- Construction
- Repair
- Modification
- Topside refinishing
- Refit work
- Equipment installation
- Rigging
- Mechanical installations
- Custom foil and bottom fairing
- Marine restoration
- Maintenance services
WQIS is the largest underwriter of pollution liability insurance for marine vessels in the United States. Founded in 1971, WQIS has over 36 years of experience. As an absolute specialist, WQIS focuses only on the issues of marine pollution liability.
For details on Blue Yard Ship/Boat Yard coverage, please contact Russ Brown at rbrown@wqis.com or 212-292-8700, ext. 19
Posted in Articles, Press Releases
