Section 93.715. Insurance and risk retention group coverage.

 

(1)  To use insurance and risk retention group coverage to meet the financial responsibility requirements of s. ATCP 93.705 , an owner or operator shall obtain 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 a current insurance policy.

(2)  "Termination," as used in the forms required under this section, means only those changes that would result in a gap in coverage as where the insured has not obtained required coverage or has obtained required coverage with a different retroactive date than the retroactive date of the original policy.

(3)  Each insurance policy shall be issued by an insurer or a risk retention group that is licensed to transact the business of insurance or eligible to provide insurance as an excess or surplus lines insurer in 1 or more states.

(4)  Each insurance policy shall be amended by an endorsement worded as specified in 40 CFR 280.97 (b)(1), or evidenced by a certificate of insurance worded as specified in 40 CFR 280.97 (b)(2), except for the following:

(a) The instructions in brackets in the endorsement or certificate shall be replaced by the relevant information and the brackets deleted.

(b) If financial responsibility for aboveground tanks within the scope of this subchapter is demonstrated using this method, all of the following changes shall be made:

1. Reference in the endorsement or certificate to underground tanks shall be amended to refer to aboveground tanks.

2. Certification that wording is identical to the wording required in 40 CFR 280.97 (b)(1) or (2) shall be deleted.

(5)  

(a) The owner of the property on which tanks are located has ultimate responsibility under this chapter and shall be listed as a co-beneficiary of any policy issued.

(b) This subsection shall take effect on the first policy renewal date or issuance date following February 1, 2009.

(6)  

(a) If the insurer or group terminates coverage for any reason, the insurer or group shall notify the department of such termination at the same time the insured is notified.

(b) If the insured allows coverage to lapse or changes insurers or groups, the insured shall notify the department within 10 days.

CR 07-029 : cr. Register November 2008 No. 635 , eff. 2-1-09; correction in (1) made under s. 13.92 (4) (b) 7. , Stats., Register December 2011 No. 672 ; correction in (1) made under s. 13.92 (4) (b) 7. , Stats., Register October 2013 No. 694 .

Note

A link to 40 CFR 280 is available by accessing the following Web site: http://www.epa.gov/oust/fedlaws/cfr.htm . Microsoft Windows NT 6.1.7601 Service Pack 1