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.

BREAKING DOWN '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. Produced Water

    Waste water generated during the production of oil and natural ...
  3. Absolute Pollution Exclusion

    A commercial liability insurance policy clause that removes coverage ...
  4. Water Quality Insurance Syndicate ...

    An American company that provides water pollution liability insurance ...
  5. Water ETF

    An exchange-traded fund that invests in companies operating in ...
  6. Water Damage Legal Liability Insurance

    A policy that provides financial protection to a person or business ...
Related Articles
  1. Small Business

    Make Sure Your Business Complies with These 3 Environmental Laws

    Discover why 1970 is considered the year of the environment, and learn about several major environmental laws with which businesses must comply.
  2. Investing

    Water: The Ultimate Commodity

    Opportunities to invest in this scarce resource are flowing freely - dive in!
  3. Investing

    The Economic Effects of Water Shortages

    Raising water prices to dampen demand is a necessary approach to solving the world's water shortage.
  4. Investing

    In Focus: Water Scarcity

    After a discussion, sponsored by CDP, we share the importance of water disclosure as it relates to businesses operating amid increasing water scarcity.
  5. Investing

    Risks to Consider When Investing in Water

    Investing in water should be a lock. But water is volatile and could see as many risks as potential rewards.
  6. Investing

    Looking for Cost-Effective Ways to Save Water?

    There are lots of things you can do to save water at home while reducing your ecological footprint at the same time. Here are five simple ways to do it.
  7. Investing

    This ETF Offers New Way to Invest in Water (WTRX)

    A new ETF tracking water has entered the investing landscape.
  8. Investing

    Top ETFs, Mutual Funds for Investing in Water (PHO, PIO)

    The nation's water supply is declining as demand is increasing. This presents an investment opportunity, just mind your liquidity.
  9. Investing

    Should Water Be Privatized?

    Could water privatization mean lower costs, greater efficiency and higher quality compared to public sector providers? A look at the evidence so far.
  10. Financial Advisor

    How Procter and Gamble Plans to Deliver 15 Billion Liters of Clean Water by 2020 (PG)

    Learn how Procter & Gamble plans to deliver 15 billion liters of clean drinking water by 2020 through its Children's Safe Drinking Water program.
RELATED FAQS
  1. What does it mean to be "above water"?

    The term "above water" is used to describe any situation in which the ending or current value of a subject is higher than ... Read Answer >>
  2. What are the effects of fracking on the environment?

    Understand what environmental concerns exist as it relates to fracking is necessary in weighing the benefits and caveats ... Read Answer >>
  3. How can particular scarcities benefit specific stocks?

    Learn about scarce resources, such as crude oil and water. Explore how companies that produce these resources have benefited ... Read Answer >>
  4. Does renters insurance cover water damage?

    Learn how renters insurance provides personal property coverage for items damaged by water only if the water is the result ... Read Answer >>
  5. How strongly does government regulation impact the utilities sector?

    Read about the impact of government regulation on the utilities sector, particularly as is pertains to the water and electricity ... Read Answer >>
  6. What is "marginalism" in microeconomics and why is it important?

    Find out what economists mean by marginal utility or cost and why marginalism is such an important concept in microeconomic ... Read Answer >>
Hot Definitions
  1. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
  2. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  3. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
  4. Liquidity Event

    An event that allows initial investors in a company to cash out some or all of their ownership shares and is considered an ...
  5. Job Market

    A market in which employers search for employees and employees search for jobs. The job market is not a physical place as ...
  6. Yuppie

    Yuppie is a slang term denoting the market segment of young urban professionals. A yuppie is often characterized by youth, ...
Trading Center