An owner or operator of a Class A or B petroleum-substance contaminated
soil storage, treatment, or reuse facility subject to this subchapter shall
establish financial assurance for sudden liability coverage for bodily injury
and property damage to third parties caused by sudden accidental occurrences
arising from operations of the facility that meets the requirements of this
section, in addition to the requirements specified under 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).
(1) An 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.
(2) An owner or operator subject to this subchapter may
use any of the financial assurance mechanisms as specified in Subchapter F
of this chapter to demonstrate financial assurance for sudden liability.
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