Water Pollution Liability

AAA

DEFINITION of 'Water Pollution Liability'

Financial and legal responsibility for causing contamination to oceans, rivers, lakes or streams. Entities that cause water pollution can be held liable for cleanup, regulatory fines, damage to third-party property, third-party loss of revenue, loss of public services, damage to natural resources and more. Entities that might cause water pollution include barges, fishing boats, marine cargo, vessels, yachts, tugboats, ferries and others that operate on or adjacent to bodies of water.

INVESTOPEDIA EXPLAINS 'Water Pollution Liability'

The owners and operators of these boats and vessels, as well as cargo owners, shipyards, and marina owners and operators, can be held liable for causing pollution, which can be financially disastrous. To protect themselves, these entities can purchase some type of water pollution liability insurance. For example, a cargo operator might purchase marine cargo insurance to protect itself in the event that the ship's cargo spills into the water and causes contamination.



RELATED TERMS
  1. Water Damage Legal Liability Insurance

    A policy that provides financial protection to a person or business ...
  2. Water Quality Improvement Act Of ...

    Legislation that expanded the federal government's authority ...
  3. Environmental Protection Agency ...

    The Environmental Protection Agency (EPA) was established in ...
  4. Oil Pollution Act Of 1990

    A law that caps civil liability for oil spills caused by tankers ...
  5. Medigap

    Also called Medicare Supplement Insurance, Medigap is health ...
  6. Green collar

    A worker who is employed in an industry in the environmental ...
Related Articles
  1. Home & Auto

    Cover Your Company With Liability Insurance

    Every business is susceptible to legal action. Find out how to protect yours.
  2. Home & Auto

    Filling The Gaps In General Liability Insurance

    Standard liability coverage may not be enough. Special needs call for specialized policies.
  3. Personal Finance

    Protect Your Personal Assets

    A family limited partnership (FLP) can go a long way toward securing your family's property.
  4. Entrepreneurship

    Should You Incorporate Your Business?

    Find out how becoming a corporation can protect and further your finances.
  5. Options & Futures

    Asset Protection For The Business Owner

    Could incorporating your business help protect it? Find out here.
  6. Four key factors to check out before you just sign up for dental insurance. The coverage could be really worth it – or not.
    Insurance

    Does That Dental Insurance Have Cavities?

    Four key factors to check out before you just sign up for dental insurance. The coverage could be really worth it – or not.
  7. These days, those attending college have plenty of ways to get affordable medical insurance, from student health plans to those sold on an exchange.
    Insurance

    4 Smart Ways To Get Health Insurance In College

    These days, those attending college have plenty of ways to get affordable medical insurance, from student health plans to those sold on an exchange.
  8. First time stock investors may ask, is there any way to buy insurance on stocks to prevent losses?
    Options & Futures

    Stock Safety: Top 3 Ways to Limit Your Losses

    First time stock investors may ask, is there any way to buy insurance on stocks to prevent losses?
  9. Investors can use derivative securities to effectively buy insurance on their individual holdings or on their portfolio as a whole.
    Options & Futures

    Can You Buy Stock Insurace? 3 Strategies to Limit Stock Losses

    Investors can use derivative securities to effectively buy insurance on their individual holdings or on their portfolio as a whole.
  10. Term or whole life insurance is usually a better deal than burial policies. Here's why.
    Insurance

    Is Burial Insurance A Ripoff?

    Term or whole life insurance is usually a better deal than burial policies. Here's why.

You May Also Like

Hot Definitions
  1. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  2. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  3. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  4. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  5. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
  6. Free Carrier - FCA

    A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. ...
Trading Center