Water Quality Insurance Syndicate
What Does Water Quality Insurance Syndicate Mean?
The Water Quality Insurance Syndicate is a specialized company that provides coverage for marine vessels held responsible for water pollution. Its coverage includes water pollution liability, encompassing expenses for cleaning polluted waters and potentially assisting with third-party damage claims.
Insuranceopedia Explains Water Quality Insurance Syndicate
With growing global concern over the effects of environmental destruction, insurance companies have developed policies to assist individuals and organizations liable for environmental harm. One such company is the Water Quality Insurance Syndicate, an American entity formed through the affiliation of several marine insurance companies.
A policy from this syndicate supports policyholders in addressing water pollution, covering costs for cleaning polluted waters, including financial assistance for the effort. Additionally, if a third party is impacted by the pollution, the policy may help the policyholder fulfill their obligations to the affected party.
The syndicate primarily attracts owners and operators of marine vessels, cargo ships, tugboats, fishing boats, and similar watercraft.
