Section 173-360-406. Amount and scope of required financial responsibility.

(1) Owners or operators of petroleum underground storage tanks shall demonstrate financial responsibility for taking corrective action and for compensating third parties for bodily injury and property damage caused by accidental releases arising from the operation of petroleum underground storage tanks in at least the following per-occurrence amounts:

(a) For owners or operators of petroleum underground storage tanks that are located at petroleum marketing facilities, or that handle an average of more than ten thousand gallons of petroleum per month based on annual throughput for the previous calendar year; one million dollars.

(b) For all other owners or operators of petroleum underground storage tanks; five hundred thousand dollars.

(2) Owners or operators of petroleum underground storage tanks shall demonstrate financial responsibility for taking corrective action and for compensating third parties for bodily injury and property damage caused by accidental releases arising from the operation of petroleum underground storage tanks in at least the following annual aggregate amounts:

(a) For owners or operators of 1 to 100 petroleum underground storage tanks, one million dollars; and

(b) For owners or operators of 101 or more petroleum underground storage tanks, two million dollars.

(3) For the purposes of subsections (2) and (4) of this section only, "a petroleum underground storage tank" means a single containment unit and does not mean combinations of single containment units.

(4) Owners or operators shall review the amount of aggregate assurance provided whenever additional petroleum underground storage tanks are acquired or installed. If the number of petroleum underground storage tanks for which assurance must be provided exceeds one hundred, the owner or operator shall demonstrate financial responsibility in the amount of at least two million dollars of annual aggregate assurance by the anniversary of the date on which the mechanism demonstrating financial responsibility became effective. If assurance is being demonstrated by a combination of mechanisms, the owner or operator shall demonstrate financial responsibility in the amount of at least two million dollars of annual aggregate assurance by the first-occurring effective date anniversary of any one of the mechanisms combined (other than a financial test or guarantee) to provide assurance.

(5) The amounts of assurance required under this section exclude legal defense costs.

(6) The required per-occurrence and annual aggregate coverage amounts do not in any way limit the liability of the owner or operator.

[Statutory Authority: Chapter 90.76 RCW. WSR 90-24-017, § 173-360-406, filed 11/28/90, effective 12/29/90.]

Chapter 90.76 RCW. WSR 90-24-017, § 173-360-406, filed 11/28/90, effective 12/29/90.