Checklist for Storage Tank Financial Responsibility: Insurance - Florida

Checklist for Storage Tank Financial Responsibility: Insurance is a legal document that was released by the Florida Department of Environmental Protection - a government authority operating within Florida.

FAQ

Q: What is the purpose of the Storage Tank Financial Responsibility: Insurance checklist in Florida?A: The checklist ensures that owners and operators of storage tanks have the necessary insurance coverage to cover potential financial liabilities associated with spills or leaks.

Q: Who needs to complete this checklist?A: Owners and operators of storage tanks in Florida are required to complete this checklist.

Q: What insurance coverage is required for storage tank financial responsibility?A: Owners and operators must have at least $1 million coverage for third-party bodily injury and property damage, and $500,000 coverage for corrective action and cleanup costs.

Q: Are there specific insurance companies or policies that need to be used?A: No, the checklist does not specify particular insurance companies or policies. Owners and operators are responsible for ensuring that their insurance coverage meets the required criteria.

Q: How often do owners and operators need to complete this checklist?A: The checklist must be completed annually and submitted to the Florida Department of Environmental Protection.

Q: What happens if an owner or operator fails to meet the insurance requirements?A: Failure to meet the insurance requirements may result in penalties, fines, or even the suspension of tank operations.

Q: Are there any exemptions or waivers for the insurance requirements?A: Yes, certain exemptions and waivers may be available for specific situations. It is recommended to consult with the Florida Department of Environmental Protection for further information.

Q: Can insurance policies be adjusted during the year if needed?A: Yes, owners and operators can adjust their insurance policies throughout the year as long as the coverage meets the minimum requirements at all times.

Q: Is there any assistance available for owners and operators in finding suitable insurance coverage?A: The Florida Department of Environmental Protection may provide guidance and resources to help owners and operators find suitable insurance coverage for their storage tanks.