The measures will mean companies have to demonstrate "financial responsibility" for drilling operations before a licence is granted.
The move follows a review in the wake of the Deepwater Horizon disaster in the Gulf of Mexico.
Lang Banks of WWF Scotland said: "While it's only right that oil and gas explorers should be forced to be insured to levels high enough to cover the costs of capping and clean-up, these new rules will do little to prevent future spills.
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"Total's Elgin and Shell's Gannet Alpha platforms were all insured but it still didn't prevent accidents at those facilities.
The UK Department of Energy and Climate Change ordered the review in 2010.
UK Energy Minister John Hayes said oil and gas activities had to meet "the highest possible standards of safety and environmental protection".
Companies will now have to demonstrate they can pay for an incident which occurs during a specific operation.
The guidelines suggest existing insurance cover remains broadly appropriate, but say increased levels of cover will be needed from explorers in more difficult waters.
But Lang Banks said: "Any level of insurance cover is meaningless to the thousands of marine birds, mammals and other wildlife that would be wiped out by a single deepwater oil spill."
He added: "The only way to prevent future spills and accidents is to end our addiction to oil, stop giving tax breaks to the oil industry and stop exploration for new oil and gas in dangerous deepwater locations."
(IT/GK)
