Missouri Code of State Regulations › Title 10 - DEPARTMENT OF NATURAL RESOURCES › Division 26 - Petroleum and Hazardous Substance Storage Tanks › Chapter 3 - Underground Storage Tanks- Financial Responsibility › Section 10 CSR 26-3.097 - Insurance and Risk Retention Group Coverage

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule describes the requirements for use
				  of insurance or risk retention group coverage for financial
				  responsibility.
(1) An owner
				or operator may satisfy financial responsibility requirements in
				10
				CSR 26-3.093 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.
(2) Each insurance policy shall be amended by
				an endorsement worded as specified in Form 3, included herein, or evidenced by
				a certificate of insurance worded as specified in Form 4, included
				herein.
(3) Each insurance policy
				shall be issued by an insurer or a risk retention group that, at a minimum, is
				licensed to transact the business of insurance or eligible to provide insurance
				as an excess or surplus lines insurer in this state.
Form 3-Endorsement
The following text should be used to comply with the
				  requirements of
				  10 CSR
				  26-3.097(2) as follows, except that
				  the instructions in brackets are to be replaced by the relevant information and
				  the brackets deleted:
(A) Endorsement
Name: [
name of each covered location
]
Address: [
address of each covered
				  location
]
Policy Number: [
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 underground storage tanks:
[
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 one (1) instrument is used to assure different tanks at any one (1)
				  facility, for each tank covered by this instrument, list the tank
				  identification number provided in the notification submitted for
				  10 CSR
				  26-2.022 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 release"; 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
				  underground storage tank(s) identified above.
The limits of liability are [
insert the dollar amount
				  of the "each occurrence" and "annual aggregate" limits of the Insurer's or
				  Group's liability; if the amount of coverage is different for different types
				  of coverage or for different underground storage tanks or locations, indicate
				  the amount of coverage for each type of coverage and/or for each underground
				  storage tank 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 subparagraphs A through E of this paragraph are hereby
				amended to conform with subparagraphs A through 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
				10 CSR
				26-3.095 through
				10 CSR
				26-3.102.
C. Whenever requested by the director, 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
				non-payment of premium or misrepresentation by the insured, will be effective
				only upon written notice and only after the expiration of sixty (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 ten (10)
				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 [
"Insurer" or
				"Group"
] within six (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
				  10 CSR
				  26-3.097(2)(A) and that the
				  [
"Insurer" or "Group"
] is [
"licensed to transact the
				  business of insurance or eligible to provide insurance as an excess or surplus
				  lines insurer in this state"
].
[
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
]
Form 4-Certificate of Insurance
The following text should be used to comply with the
				  requirements of
				  10 CSR
				  26-3.097(2) as follows, except that
				  the instructions in brackets are to be replaced by the relevant information and
				  the brackets deleted:
Certificate of Insurance
Name: [
name of each covered
				  location
]
Address: [
address of each covered
				  location
]
Policy Number: [
number
]
Endorsement (if applicable):
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:
Certification:
1.
				[
Name of Insurer or Risk Retention Group
], [
the
				"Insurer" or "Group"
], as identified above, hereby certifies that it
				has issued liability insurance covering the following underground storage
				tank(s):
[
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 one (1) instrument is used to assure different tanks at any one (1)
				  facility, for each tank covered by this instrument, list the tank
				  identification number provided in the notification submitted pursuant to
				  10 CSR
				  26-2.022 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
				  underground storage tank(s) identified above.
The limits of liability are [
insert the dollar amount
				  of the "each occurrence" and "annual aggregate" limits of the Insurer's or
				  Group's liability; if the amount of coverage is different for different types
				  of coverage or for different underground storage tanks or locations, indicate
				  the amount of coverage for each type of coverage and/or for each underground
				  storage tank 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 [
"Insurer" or "Group"
] further certifies the following
				with respect to the insurance described in Paragraph 1:
A. Bankruptcy or insolvency of the insured
				shall not relieve the [
"Insurer" or "Group"
] of its
				obligations under the policy to which this certificate applies.
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
				10 CSR
				26-3.095 through
				10 CSR
				26-3.102.
C. Whenever requested by the director, 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
				non-payment of premium or misrepresentation by the insured, will be effective
				only upon written notice and only after the expiration of sixty (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 ten (10)
				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 [
"Insurer" or
				"Group"
] within six (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 an 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
				  10 CSR
				  26-3.097(2)(B) and that the
				  [
"Insurer" or "Group"
] is [
"licensed to transact the
				  business of insurance, or eligible to provide insurance as an excess or surplus
				  lines insurer, in this state"
].
[
Signature of authorized representative of
				  Insurer
]
[
Type name
]