Indiana Administrative Code › Title 329 - SOLID WASTE MANAGEMENT DIVISION › Article 3.1 - HAZARDOUS WASTE MANAGEMENT PERMIT PROGRAM AND RELATED HAZARDOUS WASTE MANAGEMENT › Rule 14 - Financial Requirements for Owners and Operators of Interim Status Hazardous Waste Treatment, Storage, and Disposal Facilities › Section 14-18 - Post-closure insurance option

Current through July 10, 2024
Authority: IC 13-14-8; IC 13-22-2; IC
				  13-22-8-1; IC
				  13-22-9-7
Affected: IC 13-22
Sec. 18.
(a) An
				owner or operator may satisfy the requirements of section 14 of this rule by
				obtaining post-closure insurance that conforms to the requirements of this
				section and submitting a certificate of such insurance to the commissioner. The
				owner or operator shall submit the certificate of insurance to the commissioner
				or establish other financial assurance as specified in sections 15 through 17
				of this rule, this section, and section 19 of this rule. At a minimum, the
				insurer shall be licensed to transact the business of insurance, or eligible to
				provide insurance as an excess or surplus lines insurer, in one (1) or more
				states.
(b) The wording of the
				certificate of insurance must be identical to the wording specified in section
				30 of this rule.
(c) The
				post-closure insurance policy must be issued for a face amount at least equal
				to the current post-closure cost estimate except as provided in section 20 of
				this rule. As used in this section, "face amount" means the total amount the
				insurer is obligated to pay under the policy. Actual payments by the insurer
				will not change the face amount, although the insurer's future liability will
				be lowered by the amount of the payments.
(d) The post-closure insurance policy must
				guarantee that funds will be available to provide post-closure care of the
				facility whenever the post-closure period begins. The policy also must
				guarantee that once post-closure care begins, the insurer shall be responsible
				for paying out funds, up to an amount equal to the face amount of the policy,
				upon the direction of the commissioner, to such party or parties as the
				commissioner specifies.
(e) An
				owner or operator or any other person authorized to perform post-closure care
				may request reimbursement for postclosure care expenditures by submitting
				itemized bills to the commissioner. Within sixty (60) days after receiving
				bills for postclosure care activities, the commissioner shall instruct the
				insurer to make reimbursements in those amounts as the commissioner specifies
				in writing if the commissioner determines that the post-closure expenditures
				are in accordance with the approved postclosure plan or otherwise justified. If
				the commissioner does not instruct the insurer to make such reimbursements, the
				commissioner shall provide a detailed written statement of reasons.
(f) The owner or operator shall maintain the
				policy in full force and effect until the commissioner consents to termination
				of the policy by the owner or operator as specified in subsection (k). Failure
				to pay the premium, without substitution of alternate financial assurance as
				specified in sections 14 through 17 of this rule, this section, and sections 19
				through 21 of this rule, constitutes a major violation of this rule warranting
				such remedy as the commissioner deems necessary and is authorized to make. Such
				violation is deemed to begin upon receipt by the commissioner of a notice of
				future cancellation, termination, or failure to renew due to nonpayment of the
				premium rather than upon the date of expiration.
(g) Each policy must contain a provision
				allowing assignment of the policy to a successor owner or operator. Such
				assignment may be conditional upon consent of the insurer provided such consent
				is not unreasonably refused.
(h)
				The policy must provide that the insurer may not cancel, terminate, or fail to
				renew the policy except for failure to pay the premium. The automatic renewal
				of the policy must, at a minimum, provide the insured with the option of
				renewal at the face amount of the expiring policy. If there is a failure to pay
				the premium, the insurer may elect to cancel, terminate, or fail to renew the
				policy by sending notice by certified mail to the owner or operator and the
				commissioner. Cancellation, termination, or failure to renew may not occur,
				however, during the one hundred twenty (120) days beginning with the date of
				receipt of the notice by both the commissioner and the owner or operator as
				evidenced by the return receipts. Cancellation, termination, or failure to
				renew may not occur and the policy must remain in full force and effect in the
				event that on or before the date of expiration:
(1) the commissioner deems the facility
				abandoned;
(2) the interim status
				is terminated or revoked;
(3)
				closure is ordered by the commissioner, the U.S. EPA, or court of competent
				jurisdiction;
(4) the owner or
				operator is named as debtor in a voluntary or involuntary bankruptcy proceeding
				under
				11
				U.S.C. 101 et seq., October 1, 1979;
				or
(5) the premium due is
				paid.