In this Insurance Institute of London (IIL) Marine & Energy lecture Dr Karen Purnell will talk about the challenges and threats to the international system of compensating damage from accidental spills of oil and chemicals.
Karen will start with a brief introduction to the work of ITOPF in the context of funding and remit given by the world’s shipowners and their insurers. Her introduction will also set the scene by discussion of statistic relating to oil spills from tankers and non-tankers and there will be a brief summary of applicable compensation regimes and jurisdictions.
The main part of Karen’s presentation will cover the challenges provided by multi-jurisdictional incidents, differing levels of preparedness for spills and different expectations as regards type and quantum of compensation for economic and environmental damage. Karen will also cover the challenges provided by inconsistent ratification of the IMO’s conventions and different application/interpretation of the ‘rules’.