The International Convention on Civil Liability for Bunker Oil Pollution Damage, or Bunker, was put into effect in 2008. The convention determined that those suffering from losses or damages as a result of an oil spill from a tanker would be able to claim compensation for their troubles. A bunkers convention certificate must be held by each owner of large tankers as proof that they are insured.
Definition of Damage
According to the convention, damage from pollution is described as any damage or loss from oil that escapes a tanker. In addition, coverage includes taking preventative measures to ensure the same accident does not happen again.
Where Coverage Works
The convention decisions are in place across the globe. Most countries are a part of it and require insurance to cover damages done in any country’s territory, including land and sea.
Anyone can claim coverage that has been negatively impacted by an oil spill from a large tanker. You can make a claim directly with the insurer that covers the owner of the tanker. Since large tankers must be covered by insurance or have some liability wrapped up in a financial institution (like a bank), you should have no problem getting compensated for damages wrought by the oil spill.