The International Oil Pollution Compensation (IOPC) Funds celebrated 40 years in operation with a gala reception at the IMO headquarters in London.
The IOPC is a United Nations body that pays out compensation for the clear-up costs and to victims of oil tanker spills.
It opened up its doors to thank insurance industry figures and diplomats who have helped it along the way over the past four decades.
Special awards
Jose Maura, who has headed the organisation as director for the past 10 years, hosted the event and used the occasion to present a special award to each of the three previous IOPC directors for helping build the international compensation system.
“I’ve had pleasure of working with two of my three predecessors and had the benefit of inheriting from all three of them an organisation which they had all played a great role in shaping,” he said.
“I’m delighted that we have this opportunity to formally recognise their work today.”
Maura reflected that the IOPC has paid out £680m in compensation over the past four decades for oil spills around the world for disasters, such as the Amoco Cadiz, Erika and Prestige.
“Personally, I have been at the funds for more than 22 years, so I have experienced some of the most difficult spills facing the organisation, and been privileged to see how the organisation successfully responded to those spills and also how it has grown and adapted over time,” he said.
