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To: ColleenB who wrote (196)10/12/1998 3:06:00 PM
From: ColleenB  Respond to of 718
 
As a property owner of a site with a UST(s) on the premises, you must demonstrate your financial responsibility for the cost of cleaning up a leak and compensating other people for bodily injury and property damage. The financial responsibility requirements appear in the Code of Federal Regulations, 40 CFR Part 280. These requirements are briefly summarized in a free EPA booklet, Dollars and Sense which you can order by calling EPA's toll free Hotline at 800-424-9346.

....bascially, as an owner or operator of US's storing petroleum, you must be able to demonstrate your ability to pay for damage costs that could occur if your UST's leaked. You need either $500,000 or $1Millionin "per occurrence" coverage and either $1Million or $2Million in "aggregate" coverage, depending on your ownership category.



To: ColleenB who wrote (196)10/12/1998 5:49:00 PM
From: Ellen  Read Replies (1) | Respond to of 718
 
Colleen,

Many thanks for all your feedback and excellent descriptions!