Insurance for Oil Spill Liability in the Aftermath of the Deepwater Horizons
New York, NY 10019
The insurance industry has to quickly adapt to changing legislation and potentially a new statutory scheme for oil pollution liability. This program will cover the insurance policies offered by the Water Quality Insurance Syndicate for commercial vessels and cargo oil spill liabilities, and an analysis of federal and state law applicable to oil spill damages and recovery of economic claims.
Andrew Garger, General Counsel of WQIS, will discuss WQIS forms and policies, federal v. state oil spill liabilities, endorsements for individual states, financial responsibility requirements, claims response and recovery of claims against third parties or the Oil Spill Liability Trust Fund.
Vincent Foley, partner at Holland & Knight, will discuss the federal and state oil spill liability regime and recent proposed legislation, review the recovery of economic claims and consequential damages in light of the expanded recoveries being considered by the Gulf Coast Claims Facility.