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Tankers may not need insurance for third-party oil-spill claims

Posted On: Oct. 10, 2019 6:27 AM CST

New Zealand government's proposed marine protection rules do not require offshore installations and tankers carrying more than 2,000 tons of oil to be insured for third party claims in the event of a spill, Newsroom reports. This means that while third parties like fishing and tourism operators will be able to claim for lost profits, the installation owners do not need to be insured for those claims and could have to pay out of pocket if they don’t buy coverage

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