Water Quality Improvement Act Of 1970

AAA

DEFINITION of 'Water Quality Improvement Act Of 1970 '

Legislation that expanded the federal government's authority over water quality standards and water polluters. The Water Quality Improvement Act Of 1970 grew out of the 1948 Federal Water Pollution Control Act and placed additional limits on the discharge of oil into water where it could damage human health, marine life, wildlife or property. The act also included a number of other provisions intended to reduce water pollution. Federal regulation of water pollution dates back to 1886, when the River and Harbor Act was signed into law.

INVESTOPEDIA EXPLAINS 'Water Quality Improvement Act Of 1970 '

Potential accidental water polluters can protect themselves from the liabilities they face under federal water regulations by purchasing marine pollution insurance. This insurance covers losses such as cleanup, damage to natural resources, legal defense and civil penalties. Mobile drilling units, cargo owners and operators, ship yards, and marina owners and operators are examples of businesses that can benefit from having this type of insurance coverage.



RELATED TERMS
  1. Water Pollution Liability

    Financial and legal responsibility for causing contamination ...
  2. BP Oil Spill

    A 2010 oil spill that occurred in the Gulf of Mexico as a result ...
  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. Corporate Social Responsibility

    Corporate initiative to assess and take responsibility for the ...
  6. Licensed For Reinsurance Only

    A license that allows a company to engage in services related ...
Related Articles
  1. Home & Auto

    Cover Your Company With Liability Insurance

  2. Home & Auto

    Filling The Gaps In General Liability ...

  3. Mutual Funds & ETFs

    Water: The Ultimate Commodity

  4. Economics

    The New Global Banking Regulations To ...

Hot Definitions
  1. Capitulation

    When investors give up any previous gains in stock price by selling equities in an effort to get out of the market and into ...
  2. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  3. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  4. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  5. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  6. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
Trading Center