Oil Spill Clean-up in CA Insured

According to a spokesperson for the container ship that collided Nov. 7 with San Francisco’s Bay Bridge, spilling 58,000 gallons of oil into San Francisco Bay, the clean-up is fully insured for the cleanup through its insurer, Steamship Mutual Underwriters Association.

Published on November 13, 2007

The spokesman for Regal Stone Ltd. of Hong Kong, the owner of the Cosco Busan, could not provide information on liability limits.

Steamship Mutual, a protection and indemnity club, is a member of the International Group of P&I Assns., which provides reinsurance for club members up to a total limit of $1.05 billion for pollution claims.

A criminal investigation has been launchedinto the spill by the federal authorities. The spill occurred during dense fog when the ship struck the protective fendering system of the Bay Bridge. The National Transportation Safety Board is also investigating the incident.

More than 1,000 people and more than 80 vessels have been working on the spill response, which closed more than 20 area beaches and endangered area wildlife, according to the U.S. Coast Guard.