IOPC Funds successfully delivers the 4th in its webinar series

The fourth session in the IOPC Funds’ webinar series “Financing the system”, took place on 28 February 2024.

Chief of Finance, Claire Montgomery, delivered a 15-minute presentation entitled “How much money is needed?” during which, she highlighted the various mechanisms that have been put in place to ensure the availability of adequate funds in the system to compensate victims of oil spill incidents. She explained the purpose of contributions and detailed the calculation process for  levies. She also outlined the importance of effective cash management and financial transparency within the system.

Today’s event was delivered twice in order to give participants from different time zones more flexibility to attend. Following each presentation, Ms Montgomery answered a range of questions from the audience. The webinar series has so far attracted a very wide audience and this session was no exception.

The IOPC Funds has been delighted with the response to the webinar series, which is open to any interested party. Participants can opt to attend either the full series or only those webinars of particular interest to them. Divided into four modules, the full programme, available here, consists of a total of 11 webinars covering everything, from the basic understanding of the Conventions to the financing of the system, the types of claims that arise from tanker incidents, and the claims submission process.

The IOPC Funds are now launching the third module of the webinar series, which will focus on claims for compensation. The first session under the new module, titled “Roles and responsibilities in an incident”, will take place on 27 March 2024. To register for this event, please complete the online registration form, selecting your preferred time slot.