Home Oil Tank Spills: Are you Prepared to Pay the Bill?

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Domestic Oil Tanks

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Domestic oil spill data project first step in curbing pollution

“Just one litre of oil contaminates a million litres of drinking water”

December 6 , 2007

Halifax - On January 1, 2008, Insurance Bureau of Canada (IBC) is launching a project that will accurately track domestic oil spills in Atlantic Canada for the first time. The data will be provided to governments as part of an effort to introduce and strengthen legislation for the installation, maintenance and replacement of domestic oil tanks.

“IBC is undertaking this project because there is a clear need to understand the extent of the growing problem of domestic oil spills. While individual insurance companies have collected data on domestic oil tank spills for some time, this project introduces consistent reporting across the industry,” said Don Forgeron, Vice-President, Atlantic, Insurance Bureau of Canada.

“We believe that this is the first step in demonstrating the need for stronger legislative action to prevent spills in the future,” Forgeron added.   

Currently, Prince Edward Island and Newfoundland and Labrador have legislation dealing with the installation and replacement of domestic oil tanks.  Nova Scotia and New Brunswick do not have any such legislation. IBC will advocate for similar legislation in New Brunswick and Nova Scotia, while providing valuable data that can be used to potentially improve current programs in Prince Edward Island and Newfoundland and Labrador.

Most domestic oil tanks hold around 1,000 litres of oil, and just one litre of leaked oil can contaminate one million litres of drinking water.

Government, industry, consumers and many other stakeholders, such as the Nova Scotia Insurance Review Board, agree this is a problem that needs to be addressed and today’s announcement provides an important component of any solution. 

Insurance Bureau of Canada is the national trade association of the property and casualty insurance industry. Its member companies provide nearly 95% of the private home, car and business insurance sold in Canada.

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For more information or to arrange an interview with Don Forgeron, Vice-President, Atlantic, IBC, please contact (902) 429-2730.