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  • 8 - Insurance and Compensation Funds

  • Neil Craik, University of Waterloo, Ontario, Tara Davenport, National University of Singapore, Ruth Mackenzie, University of Westminster
  • Book:
    Liability for Environmental Harm to the Global Commons
    Published online:
    24 August 2023
    Print publication:
    07 September 2023, pp 230-250

  • 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.