Marina operators are responsible for providing a safe and welcoming space for customers and their vessels, but they must also protect their marinas from potential hazards, such as oil spills. That’s why marina operators need to invest in vessel pollution insurance, like a Clean Marina policy, that aims to protect marinas before a spill even occurs.
Oil spills happen in many ways, from onboard fires and collisions to hurricane damage and sinking vessels. Sometimes, even a mystery spill with an unknown cause leaks oil into the surrounding waters. Whatever the cause, oil spills destroy the surrounding marine environment and damage the marina and its docked vessels.
While these incidents are usually out of a marina’s control, that doesn’t mean the marina is off the hook for the damages associated with the oil spill. In fact, the marina is responsible for removal and clean-up costs, along with potential fines and penalties. Those expenses, paired with the impact of negative public perceptions, could financially ruin an uninsured marina.
Due to the steep financial implications of an oil spill, it’s essential for marina operators to protect their assets with insurance like Falvey’s Clean Marina Policy. Our Vessel Pollution insurance has the largest spill management network, and the pollution insurance coverage is designed to protect marinas’ reputations, assets, and marine environments in the event of an oil spill.
The Clean Marina Policy provides liability to the U.S. government, state and political subdivisions, and any claimant under the Oil Pollution Act 1990 and the
Comprehensive Environmental Response, Compensation, and Liability Act of 1980. The insurance policy covers the costs of fines, penalties, and offshore property damage, but it doesn’t extend to land-based oil spills. Furthermore, the coverage addresses federal and state requirements and helps manage the marina’s reputation.
Contact us today to learn more about our vessel pollution insurance coverage.
