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International

Oil spill compensation limit increased to $1 billion in New Zealand

December 13, 2017 Reprints

Julie Anne Genter, New Zealand's associate transport minister, said that the amount of compensation that can be claimed from firms responsible for oil spills has been increased to $1.5 billion New Zealand ($1 billion) from NZD 411 million, TVNZ.co.nz reported. The parliament passed the Maritime Transport Amendment Bill on Dec. 11. "The bill will ensure that in the event of an oil spill from a tanker there is significantly more compensation made available to deal with any clean up," Ms. Genter said.

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Oil spill compensation limit increased to $1 billion in New Zealand

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