Water Quality Insurance Syndicate - WQIS


DEFINITION of 'Water Quality Insurance Syndicate - WQIS'

An American company that provides water pollution liability insurance for marine vessels. The Water Quality Insurance Syndicate (WQIS) provides coverage for marine cargo, vessels, tugboats, barges, fishing boats, ferries, yachts and more. Policies can cover any number of entities that might incur water pollution liability, including vessel owners and operators, cargo owners, shipyards, and marina owners and operators.

BREAKING DOWN 'Water Quality Insurance Syndicate - WQIS'

Insurance provided by WQIS helps protect an entity that causes marine pollution from the significant expenses associated with cleanup, damage to third-party property, third party loss of revenue, regulatory fines and penalties and other threats. 15 marine insurance companies, including Navigators Insurance Company, New York Marine & General Insurance Company and North American Specialty Insurance Company, back WQIS. WQIS is also closely affiliated with the Marine Pollution Response Group, which provides oil-spill cleanup.

  1. Water Quality Improvement Act Of ...

    Legislation that expanded the federal government's authority ...
  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. Indemnity

    Indemnity is compensation for damages or loss. Indemnity in the ...
  5. Reinsurance Assisted Placement

    Insurance business that is developed with the help of a reinsurance ...
  6. Franchise Cover

    A type of reinsurance plan in which the claims from a number ...
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