The environmental damage that can be caused by an oil spill can be devastating, depending on the amount of oil involved and the time taken to clean it up. If it enters the water supply or contaminates soil this can cause serious health risks for residents of New York.
The immediate cost of a clean-up, and the urgency with which it is needed, is just not feasible for some businesses and so the Oil Spill Fund is available to cover those immediate clean-up costs.
How does the Oil Spill Fund work?
The law states that the business responsible for the facility from which the oil is discharged is responsible for the costs of the clean-up and containment.
In the event that a business cannot pay immediately or refuses to pay for the spill, the spill still needs to be cleaned up. Air, soil and water can become polluted by the toxins found in fuel and oil which needs to be prevented where possible or limited if it’s not possible to completely prevent it.
The Oil Spill Fund, or the “New York Environmental Protection and Spill Compensation Fund,” is intended to pay for the cost of the initial clean-up and to compensate anyone who has suffered a financial loss as a result. The Fund provides the monies upfront to victims, then looks to recoup these from the party responsible for the spillage.
Even if you have insurance in place to cover your business in the event of an oil spill, you may find yourself facing litigation. Having experienced legal representation can help with limiting the financial burden on you for the cleanup and holding a third party responsible for the claim where the liability lies with them.
