The tanker transport of oil throughout the world has resulted in what seems an inevitable series of major oil spills with massive ecological damage to local environments. Shipping companies always seem to do their best, quite successfully it seems, to avoid sufficient and rapid payment to remedy the damages. All ships surely ensure both the ships and the oil during transport. It would seem only fair that the insurance payments in such accidents be assigned immediately after the accidents to the injured parties who suffer such large damages and if there is anything left over it can go to the shipping companies to compensate them for their losses. If the insurance does not cover the full ecological damage then the victims should be free to sue for further compensation.
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I think you really need the courts to decide who the injured parties are and how much they are due.
Maybe some method to get the courts involved quicker?
As for a method to sue for futher compensation, I'm would expect that's a given.
Also consider, if the shipping companies only insure to protect against lawsuits from people that sue them and the insurance is not to replace their equipment, it would seem far more logical to pay independant contractors to ship for them with no insurance at all. When they crash, they go broke and there's no recourse for 'victims'.
Authorities are investigating an alleged sleep disorder suffered by the pilot of the ship which recently rammed a bridge in SF Bay and spilled oil.
There is a similarity between shipwrecks and the problem of medical insurance re malpractice by MDs. Seems to me that since doctor's fees are often a small part of the cost of a surgery and hospitalization, etc, why not require at least two doctors on all surgeries, and two opinions on all treatments ?
Similarly, why not require at least two pilots on all ships entering or leaving ports ? It would be a small price to pay for the added safety.
Having said that, the problem re ships is self limiting in the sense that (1) the oil supply is diminishing, and (2) the eventual high value of the remaining oil will require greater care in its shipment.
Okay, this SOUNDS good in theory, but it's ACTUALLY a horrible idea! Insurance rates will skyrocket for all parties concerned, which means that all fuels created as a result of crude oil refining will be increased. Which means (ultimately) that the consumer will have MUCH higher fuel costs, which just sounds so cheery as opposed to the already ridiculous prices we're paying at the pump these days... and our electric bills, and our heat oil, and our natural gas, and our... (fill in the blank).
The ONLY way these types of spills will inevitably be prevented is if the owners and/or senior management of these companies are held PERSONALLY responsible for any and all spills. Further, the salaries of the individuals that are to be held responsible shall not increase for the next 10 years, and only at 1% of their current salary thereafter. Doing this would prevent the company from paying their executives higher salaries to help off-set the risk, further sending these salary costs to the consumers. Er go, the consumer doesn't pay any more for what they already are getting, the seas will start to be thought of in a better light as a result of executives not wanting to be criminally and/or civily liable! If you tax the company, or expect insurance companies (another expense of the corporation that would rise, sending those costs to the consumers) to foot the bill, then consumers will inevitably be expected to pay for the executives' incompetence or lack of care for the seas (and other wildlife, beaches, etc.)