Mississippi Administrative Code › Title 11 - Mississippi Department of Environmental Quality › Part 5 - Underground Storage Tank Regulations › Chapter 2 - Mississippi Commission on Environmental Quality Underground Storage Tanks Regulations Technical Standards and Corrective Action Requirements for Owners and Operators of Underground Storage Tanks (UST) (Adopted March 22, 1989; Amended August 25, 2011, Last Amended August 23, 2018) › Rule 11-5-2.8 - Financial Responsibility › Section 11-5-2.8-280.97 - Insurance and risk retention group coverage

Current through June 25, 2024
(a) An
				  owner or operator may satisfy the requirements of § 280.93 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
				  must 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 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 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 notification submitted pursuant to
					 40 CFR
					 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 "nonsudden 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 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)
				  through (e) of this Paragraph 2 are hereby amended to conform with subsections
				  (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 40 CFR 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 non-payment 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 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 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 CFR
					 280.97(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]