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8 - Insurance and Compensation Funds

Published online by Cambridge University Press:  24 August 2023

Neil Craik ,
Tara Davenport  and
Ruth Mackenzie
Neil Craik
Affiliation:
University of Waterloo, Ontario
Tara Davenport
Affiliation:
National University of Singapore
Ruth Mackenzie
Affiliation:
University of Westminster
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Summary

In order to realize the fundamental goals of liability rules, it is necessary to secure potential future liabilities through financial assurances. Financial assurances are key to ensuring ’prompt and adequate compensation’ and for the availability of funds to protect and preserve the environmental resources that have been harmed. This chapter examines the various types of assurances, such as insurance and compensation funds, that are currently used within civil liability regimes generally, before exploring the existing and emerging practices within the Antarctic, deep seabed and high seas regimes.

Keywords

financial assurancesinsurancecompensation funds
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Chapter
Information
Liability for Environmental Harm to the Global Commons , pp. 230 - 250
Publisher: Cambridge University Press
Print publication year: 2023

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