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Environmental groups are concerned that the current insurance system cannot support an oil spill in the province of British Columbia and are calling on the lawmakers to change the rules, reports News1130.
The groups warn that, unless the existing rules are changed, taxpayers will have to pay for the majority of damage caused by an oil spill. They point out that a major oil spill could result in damages of up to 10 billion Canadian dollars ($9.98 billion), only 10% of which would be covered by the current insurance system, with taxpayers having to bear the rest. Brenda Belak of West Coast Environmental Law said, ìThere is not enough money available through existing insurance regimes to clean up a medium to a large spill.î The BC government responded that it is working on a polluter pay system as part of an overhaul of policies, reports News1130.