Official statement on the settlement of WQIS vs. Safe Harbor Pollution Insurance from John Ryszetnyk III, CEO of WQIS:
“On Oct. 9, 2015, a settlement has been finalized in the matter of Water Quality Insurance Syndicate and Richard H. Hobbie III, v. Safe Harbor Pollution Insurance LLC, Falvey Insurance Group Ltd., Russell Brown, Anthony Gerone, Sean Quinn. Defendant Safe Harbor has agreed to pay WQIS a settlement to conclude the litigation.
"During the pendency of this litigation, WQIS has grown and expanded, brought on accomplished senior executives, and now offers Certificates of Financial Responsibility for Owners/Operators of ships of any flag and tonnage, at the most competitive price in the market.
"After two years of litigation, associated costs and time incurred, this matter is now behind us. WQIS continues to be the pre-eminent insurer for vessel pollution liability, as demonstrated by our underwriting capability, scope of cover, and most importantly in pollution response, in conjunction with our accomplished and experienced claim handling.”
