Water Quality Insurance Syndicate

Definition of "Water quality insurance syndicate"

Group of marine underwriters formed in 1971 to provide coverage for shipowners for water pollution liability. The federal water quality improvement act of 1970 made shipowners responsible for hazardous substances discharged by their ships into the water. This led to the Water Quality Insurance Syndicate. Coverage extends to liabilities imposed by states. The syndicate vouches for the financial responsibility of those it insures.

Search Real Estate Glossary

Related Real Estate Glossary terms

Annual Percentage Rate (APR)

True measure of the effective cost of credit for real estate purchases. ...

Apartment House

Multi-family housing complex of rental apartments managed by either the property owner or a resident ...

Associate In Risk Management (arm)

Professional designation earned after the successful completion of three national examinations given ...

Notice Of Nonresponsability

A clearly stated notice that an owner or operator will not assume responsibility for an inherent ris ...

Managed Care

Plan to control employer's health care cost through the introduction of practice guidelines or proto ...

Risk Management

Procedure to minimize the adverse effect of a possible financial loss by (1) identifying potential s ...

Related Real Estate FAQ

What Are Discount Points?

Discount points are a type of point paid by the borrower to reduce the interest rate. ...

What Is Comprehensive Homeowners Insurance?

Comprehensive is the most expensive type of homeowners insurance; it covers the most potential damag ...

How Big Is An Acre?

An acre is an area of land equal to 43,560 square feet. For visuality purposes, an acre is most oft ...

What Is A Balloon Mortgage?

A type of mortgage in which the loan amount is amortized over the full length of the loan (usually 3 ...

Is Depreciation Common?

Generally, real property never depreciates in value, or more so, it is not very common for property ...

What Is An Inspection?

An inspection is a close and thorough examination of a house and property. A licensed individual usu ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

5 signs of house foundation problems Should you Buy a Home with Cash? When to buy a house Real Estate Open House - The Dos and Don Is it better to buy or sell a home first

FAQ

If I want to buy a house and I know the property and the seller already have an agent, can I act as my own agent and negotiate a lower fee? How can I protect my Home Office? What is a subdivision? What is Freddie Mac? What is a conventional mortgage?