Water Quality Insurance Syndicate


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Water Quality Insurance Syndicate

A group of insurers that provide insurance for water pollution liability, which is the obligation of a ship's owner to pay to clean up his/her ship's pollution. The Syndicate formed in 1971 in response to the Water Quality Improvement Act of 1970.
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Water Quality Insurance Syndicate is the largest underwriter of pollution liability insurance for marine vessels in the United States.
"The graphic pictures that came out of the Torrey Canyon incident with the Royal Air Force attempting to bomb the vessel, and the oil washing onto beaches are still with us today," said Richard Hobbie, president of the Water Quality Insurance Syndicate in New York at an American Institute of Marine Underwriters seminar in New York.
FirstService Williams has arranged a 10.5-year, 12,400 s/f lease on behalf of the Water Quality Insurance Syndicate at 60 Broad Street in Lower Manhattan.
The tenants - American marine management services Inc., American Institute of Marine Underwriters ("AIMU"), Water Quality Insurance Syndicate, and American Marine Insurance Clearinghouse - all decided that 14 Wall Street was the best possible location for their offices.
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