What are the exclusions and limitations under the International Convention on Civil Liability for Oil Pollution Damage?

The International Convention on Civil Liability for Oil Pollution Damage is a global agreement established to create a system of compensation for damage caused by oil pollution. Under this convention, certain exclusions and limitations exist for claims related to oil pollution damage. First, compensation cannot be claimed for any type of damage that is not caused by an oil spill, such as those caused by natural disasters or war. Second, the convention limits the amount of compensation available if the spill was intentional or grossly negligent. This means that claims relating to damages resulting from an intentional or grossly negligent act may be reduced. Third, the convention limits the amount of compensation available if the spills were caused by vessels without insurance or with insufficient insurance. Fourth, the convention limits compensation for economic losses resulting from the oil spill, such as the lost value of fishing or tourism activities, to the actual costs of restoration. Fifth, the convention limits liability for oil pollution damage to a certain amount of money, depending on the size of the vessel causing the damage, rather than the actual costs of the damage. Finally, the convention does not cover any type of punitive damages, which are damages intended to punish the wrongdoer for their actions. In cases of intentional or grossly negligent oil spills, the parties responsible for the spill may still be liable for punitive damages outside the scope of the convention.

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What are the exclusions and limitations under the International Convention on Civil Liability for Oil Pollution Damage?

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