The United States Coast Guard is issuing a final rule to increase the limits of liability for vessels, deepwater ports, and onshore facilities, under the Oil Pollution Act of 1990, as amended (OPA 90), to reflect significant increases in the Consumer Price Index (CPI).
This final rule is effective December 21, 2015. As of December 21, 2015, the Water Quality Insurance Syndicate shall automatically hold covered the new increased limit for any insured vessels navigating in waters governed by the Oil Pollution Act, if the new limit exceeds the current policy limits. For any vessels not operating in the United States and insured as such there shall be no changes to any insurance limit.
The OPA 90 limits of liability for vessels will be as per the below: