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 November 12, 2019. As of November 12, 2019, the Water Quality Insurance Syndicate shall automatically hold covered, at no additional premium, 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.
See the table below for a comparison between the current limits of liability and the new ones under the final rule: