The premiums are fully earned. Each party purchasing coverage at that site will have the total limit of liability prorated over the total limit among the policies issued, so as to avoid stacking beyond the total coverage limit of five hundred thousand dollars. If coverage is purchased for any part of a year, the purchaser shall pay the full annual premium. The board may only approve fund coverage through the payment of a premium established on an actuarially sound basis. Cleanup beyond the actual costs associated with the site.
Annual monitoring is required for any site for which coverage is purchased.
Failure to comply with monitoring as prescribed by the board will invalidate insurance coverage under this subsection. For a site which has been issued a monitoring certificate, the annual monitoring requirements imposed under this paragraph shall be satisfied by the annual monitoring requirements imposed under the corrective action rules for a site which is allowed to monitor in place. Coverage may be transferred upon payment of a transfer fee. The board shall adopt rules pursuant to chapter 17A as necessary to implement this subsection. Limitations on third-party liability.