Louisiana Administrative Code › Title 33 - ENVIRONMENTAL QUALITY › Part XI - Underground Storage Tanks › Chapter 11 - Financial Responsibility › Section XI-1115 - Insurance and Risk Retention Group Coverage

Current through Register Vol. 50, No. 6, June 20, 2024
A. An owner or operator may satisfy the
				requirements of LAC 33:XI.1107 by obtaining liability insurance that conforms
				to the requirements of this Section from a qualified insurer or risk retention
				group. Such insurance may be in the form of a separate insurance policy or an
				endorsement to an existing insurance policy.
B. Each insurance policy shall be amended by
				an endorsement worded as specified in Paragraph B.1 of this Section, or
				evidenced by a certificate of insurance worded as specified in Paragraph B.2 of
				this Section, except that instructions in brackets shall 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
a. 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 instrument is used to assure different tanks at any one facility, for each
				  tank covered by this instrument, list the tank identification number provided
				  in the registration submitted pursuant to LAC 33:XI.301 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 "nonsudden accidental releases" or "accidental
				  releases"; 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. This coverage is
				  provided under [policy number]. The effective date of said policy is
				  [date].
b. 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 Clauses i-v of this Subparagraph are hereby amended to conform with
				Clauses i-v.
i. 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.
ii. 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 LAC 33:XI.1111-1123.
iii. Whenever requested by the administrative
				authority of the Department of Environmental Quality, the ["insurer" or
				"group"] agrees to furnish to the administrative authority a signed duplicate
				original of the policy and all endorsements.
iv. Cancellation or any other termination of
				the insurance by the ["insurer" or "group"] 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.
[Insert for claims-made policies:
v. The insurance covers claims for any
				occurrence that commenced during the term of the policy that is discovered and
				reported to the ("insurer" or "group") within six months of the effective date
				of the cancellation or termination of the policy.]
I hereby certify that the wording of this instrument is
				  identical to the wording in LAC 33:XI.1115.B.1 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 one 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]