Why should Alaskans even care about proof of financial responsibility?
Facilities, vessels, industries and operators who produce, transport or use large volumes of oil have the potential to cause significant financial damage to public and private resources if an oil spill were to occur. Due to this increased risk, Alaska requires the largest operators to meet enhanced spill prevention and response standards. Before operating in Alaska, these same operators must also meet minimum financial standards to mitigate any public and private damages if spill prevention and response fails. This is termed “proof of financial responsibility.
