The Certificate of Insurance or Other Financial Security must be valid for which type of maritime activity?

The Certificate of Insurance or Other Financial Security is specifically mandatory for oil pollution damage because it ensures that operators in the maritime sector are financially capable of addressing liabilities that arise from oil spills and related incidents. This requirement is primarily enforced under international conventions, such as the International Convention on Civil Liability for Oil Pollution Damage (CLC).

Such regulations are vital in promoting environmental protection and ensuring that entities involved in activities that can pollute the ocean bear the financial responsibility for any resultant damages. This financial security serves as a guarantee that adequate resources will be available to compensate for the costs associated with cleanup operations and damage to marine environments, thereby minimizing the potential impact of oil pollution on coastal communities and ecosystems.

Other types of maritime activities, while they may have their own insurance or financial security requirements, do not mandate this specific certificate related to oil pollution damage. For instance, fishing activities, passenger transport, and cargo transportation have their insurance frameworks, but they do not require the same level of financial coverage directly tied to oil pollution as outlined in the CLC.