Global Marine’s Insurance Coverage for BPs Vessels of Opportunity Program

Jul 13, 2010 | Blog Post | 0 comments

On April 20th, 2010, 40 miles southeast of the Louisiana coast, an explosion triggered the largest offshore oil spill in U.S. history. Up until now we have watched helplessly as the Gulf Coast waters we’ve grown to love have become tainted with oil. But now there’s something boat owners can do to help.

BP has initiated the Vessels of Opportunity program, which pays vessel owners, captains and deck crews anywhere from $1,200 – $3,000 per day to assist in the BP clean-up effort.

BP states on its website:

“As part of the effort, independent vessel owners throughout the Gulf Coast are contracting their boats into a variety of oil recovery activities, including towing and deploying “booms” (floating barriers designed to contain, deflect, or hold back oil floating on the water’s surface), supporting skimming operations, supporting burn-off operations, finding and recovering tar balls and transporting general supplies and personnel.”

The bad news is many vessel owners interested in helping are finding it difficult to get insured. Well, we here at Global Marine have some great news for those interested in helping.

Global Marine Insurance, in conjunction with Markel American, now offers a commercial marine policy that will cover vessels interested in helping with the oil spill clean-up in the Gulf.

If you are interested in insuring your vessel to help with the Gulf Coast clean-up efforts, contact us here at Global Marine Insurance for more information or leave us a comment below.

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