Water Quality Improvement Act Of 1970
Definition of "Water quality improvement act of 1970"
1970 federal law that requires shipowners to clean up or pay for the cleanup of waters polluted by discharges from their ships. Shipowners may be refused navigation privileges if they cannot demonstrate that they have the financial resources to pay for cleanups.
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Number of times losses occur, and their severity. These statistics measure expectation of loss, and are critical in establishing a basic premium or the pure cost of protection that is based ...
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