Coast Guard Clarifies Vessels' Financial Responsibility

Law360, New York (September 19, 2008, 12:00 AM EDT) -- The U.S. Coast Guard is adopting regulatory requirements that clarify the amount of financial responsibility for water pollution that must be demonstrated by vessel operators in order to bring them in line with recent statutory increases to liability limits.

The amendments will ensure that the amounts of financial responsibility that must be demonstrated by vessel operators are consistent with recent statutory increases, and future mandated increases, to the limits of liability under the Oil Pollution Act of 1990, the Coast Guard said in the Federal Register...
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