USA: USCG is Increasing Liability Limits Under OPA 90
The US Coast Guard has issued a Final Rule and increased the OPA 90 limits of liability for ships, deep water ports and onshore facilities to reflect increases in the US Consumer Price Index (CPI).
Effective from 12 November 2019, the new limits of liability are:
The increases reflect inflation in line with the CPI and are reported to be necessary to preserve the deterrent effect and “polluter pays” principle in OPA 90. The Final Rule also establishes a simplified procedure for USCG to make future periodic CPI increases and this should be done not less than every three years. The Financial Responsibility requirements of OPA 90 will automatically update with the increased limits of liability.
For more information on liability increases and an explanation of the CPI adjustment methodology click here.