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EPA Issues Memo to UST Owners Regarding Underground Storage Tank Policies

 

The Environmental Protection Agency’s Office of Underground Storage Tanks (EPA OUST) administers underground storage tank regulations nationally. One of the more critical regulations overseen by EPA OUST are the financial responsibility requirements housed in 40 CFR 280. Three primary options exist for UST owners to demonstrate compliance with the financial responsibility requirements found in 40 CFR Part 280. Private insurance policies, state underground storage tank insurance funds, and self-insurance are the three most common financial responsibility mechanisms used by UST owners today.

EPA’s memo dated August 3, 2018, addresses specific questions regarding voluntary exclusions contained in insurance policies and self-insured retentions. EPA’s memo addresses specific policy exclusions for voluntary tank removal and voluntary site investigation. Additionally, the memo addresses self-insured retention and deductibles under private insurance policies and what is required to meet the financial responsibility requirements found in 40 CFR Part 280. EPA’s memo can be found here on the PMCI website.

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