Michigan Administrative Code › Department - Licensing and Regulatory Affairs › Bureau of Fire Services › Underground Storage Tank Regulations. R 29.2101-29.2192 › AMENDMENTS TO ADOPTED FEDERAL REGULATIONS › Subpart H - FINANCIAL RESPONSIBILITY › Section R. 29.2163e - Insurance and risk retention group coverage

Current through Vol. 24-12, July 15, 2024
Rule 63e. Section 280.97 is amended to read as adopted
						from the July 15, 2015, EPA-UST rules as follows:
Section 280.97.
(a) An O/O may satisfy the requirements of
					 section 280.93 by obtaining liability insurance that conforms to the
					 requirements of this section from a qualified insurer or risk retention group.
					 This insurance may be in the form of a separate insurance policy or an
					 endorsement to an existing insurance policy.
(b) Each insurance policy must be amended by
					 an endorsement worded as specified in subdivision (b)(1) of this section, or
					 evidence by a certificate of insurance worded as specified in subdivision
					 (b)(2) of this section, except that instructions in brackets must be replaced
					 with the relevant information and the brackets deleted:
(1) Endorsement Name: [name of each covered
					 location]
____________________________________________________________________
____________________________________________________________________
Address: [address of each covered location]
____________________________________________________________________
____________________________________________________________________
Policy Number:
____________________________________________________________________
Period of Coverage: [current policy period]
____________________________________________________________________
Name of [Insurer or Risk Retention Group]:
____________________________________________________________________
Address of [Insurer or Risk Retention Group]:
____________________________________________________________________
____________________________________________________________________
Name of Insured:
____________________________________________________________________
Address of Insured:
____________________________________________________________________
____________________________________________________________________
Endorsement:
1. This endorsement certifies that the policy
					 to which the endorsement is attached provides liability insurance covering the
					 following USTs: [List the number of tanks at each facility and the name(s) and
					 address(es) of the facility(ies) where the tanks are located. If more than 1
					 instrument is used to assure different tanks at any 1 facility, for each tank
					 covered by this instrument, list the tank identification number provided in the
					 notification submitted pursuant to 40 C.F.R. part 280.22, or the corresponding
					 state requirement, and the name and address of the facility.] for [insert:
					 "taking corrective action" and/or "compensating third parties for bodily injury
					 and property damage caused by" either "sudden accidental releases" or non
					 sudden accidental releases" or "accidental releases" in accordance with and
					 subject to the limits of liability, exclusions, conditions, and other terms of
					 the policy; if coverage is different for different tanks or locations, indicate
					 the type of coverage applicable to each tank or location] arising from
					 operating the UST(s) identified above.
The limits of liability are [insert the dollar amount of
						the "each occurrence" and "annual aggregate" limits of the Insurers or Groups
						liability; if the amount of coverage is different for different types of
						coverage or for different USTs or locations, indicate the amount of coverage
						for each type of coverage and/or for each UST or location], exclusive of legal
						defense costs, which are subject to a separate limit under the policy. This
						coverage is provided under [policy number]. The effective date of said policy
						is [date].
2. The insurance
					 afforded with respect to such occurrences is subject to all of the terms and
					 conditions of the policy; provided, however, that any provisions inconsistent
					 with subsections (a) to (e) of this Paragraph 2 are hereby amended to conform
					 with subsections (a) to (e);
a. Bankruptcy or
					 insolvency of the insured shall not relieve the ["Insurer" or "Group"] of its
					 obligations under the policy to which this endorsement is attached.
b. The ["Insurer" or "Group"] is liable for
					 the payment of amounts within any deductible applicable to the policy to the
					 provider of corrective action or a damaged third-party, with a right of
					 reimbursement by the insured for any such payment made by the ["Insurer" or
					 "Group"]. This provision does not apply with respect to that amount of any
					 deductible for which coverage is demonstrated under another mechanism or
					 combination of mechanisms as specified in 40 C.F.R. parts 280.95-280.102 and
					 280.104-280.107.
c. Whenever
					 requested by [a Director of an implementing agency], the ["Insurer" or "Group"]
					 agrees to furnish to [the Director] a signed duplicate original of the policy
					 and all endorsements.
d.
					 Cancellation or any other termination of the insurance by the ["Insurer" or
					 "Group"] except for nonpayment of premium or misrepresentation by the insured,
					 will be effective only upon written notice and only after the expiration of 60
					 days after a copy of such written notice is received by the insured.
					 Cancellation for non-payment of premium or misrepresentation by the insured
					 will be effective only upon written notice and only after expiration of a
					 minimum of 1 days after a copy of such written notice is received by the
					 insured.
[Insert for claims made policies:
e. The insurance covers claims otherwise
					 covered by the policy that are reported to the ["Insured" or "Group"] within 6
					 months of the effective date of cancellation or non-renewal of the policy
					 except where the new or renewed policy has the same retroactive date or a
					 retroactive date earlier than that of the prior policy, and which arise out of
					 any covered occurrence that commenced after the policy retroactive date, if
					 applicable, and prior to such policy renewal or termination date. Claims
					 reported during such extended reporting period are subject to the terms,
					 conditions, limits, including limits of liability, and exclusions of the
					 policy.]
I hereby certify that the wording of this instrument is
						identical to the wording in 40 C.F.R. part 280.97(b)(1) and that the ["Insurer"
						or "Group"] is ["licensed to transact the business or insurance or eligible to
						provide insurance as an excess or surplus lines insurer in 1 or more
						states".]
[Signature of authorized representative of Insurer or
						Risk Retention Group]
____________________________________________________________________
[Name of person signing]
____________________________________________________________________
[Title of person signing], Authorized Representative of
						[name of Insurer or Risk Retention Group]
____________________________________________________________________
[Address of Representative]
____________________________________________________________________
____________________________________________________________________