(a) Owners or operators required to demonstrate for liability
must comply with Subchapters A, E, F, and G of this chapter (relating to General
Financial Assurance Requirements; Financial Assurance Requirements for Liability
Coverage; Financial Assurance Mechanisms for Liability; and Wording of the
Mechanisms for Liability).
(b) An owner or operator of a hazardous waste treatment, storage,
or disposal facility, subject to this section must demonstrate financial assurance
for bodily injury and property damage to third parties caused by sudden accidental
occurrences arising from operations of the facility or group of facilities.
The owner or operator must have and maintain liability coverage for sudden
accidental occurrences in the amount of at least $1 million per occurrence
with an annual aggregate of at least $2 million, exclusive of legal defense
costs.
(c) An owner or operator of a hazardous waste surface impoundment,
landfill, land treatment facility, or disposal miscellaneous unit used to
manage hazardous waste subject to this section must demonstrate financial
assurance for bodily injury and property damage to third parties caused by
nonsudden accidental occurrences arising from operations of the facility or
group of facilities. An owner or operator must have and maintain liability
coverage for nonsudden accidental occurrences in the amount of at least $3
million per occurrence with an annual aggregate of at least $6 million, exclusive
of legal defense costs.
(d) Owners or operators who must meet the requirements of this
section may combine the required per-occurrence coverage levels for sudden
and nonsudden accidental occurrences into a single per- occurrence level,
and combine the required annual aggregate coverage levels for sudden and nonsudden
accidental occurrences into a single annual aggregate level. Owners or operators
who combine coverage levels for sudden and nonsudden accidental occurrences
must maintain liability coverage in the amount of at least $4 million per
occurrence and $8 million annual aggregate.
(e) Owners or operators subject to this subchapter may use
any of the mechanisms specified in Subchapter F of this chapter to demonstrate
financial assurance for sudden and for nonsudden liability.
(f) Owners or operators required to provide liability coverage
may not use a claims-made insurance policy as security unless the applicant
places in escrow, as provided by the executive director, an amount sufficient
to pay an additional year of premiums for renewal of the policy by the state
on notice of termination of coverage.
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