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Canada Mandates Wreck Removal Insurance for Vessels Over 300 GT

DEFENSE

Canada has enacted the Wrecked, Abandoned or Hazardous Vessels Act, mandating that all vessels over 300 gross tons (GT) maintain Wreck Removal Insurance to cover wreck removal costs. This insurance serves as a financial guarantee and allows for direct recovery against the issuer if vessel owners fail to pay. The new requirement is expected to significantly increase the number of insurance certificates issued by Transport Canada, with a certification fee of C$98.

Canada Mandates Wreck Removal Insurance for Vessels Over 300 GT
Jan 31, 2026, 11:31 AM

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