Section 329IAC15-5-8. Insurance

   (a) The owner or operator of a waste tire storage site may comply with this rule by providing evidence of insurance on:

(1) forms provided by the department; or

(2) other forms approved by the department.

  (b) All insurance must include the following requirements:

(1) The establishment of credit in the amount determined by section 3 of this rule.

(2) Provision that the insurer shall make payments:

(A) in any amount, not to exceed the amount insured; and

(B) to any person authorized by the department;

if the department notifies the insurer in writing that the owner or operator of the waste tire storage site has failed to perform final closure.

(3) Provision that the owner or operator of the waste tire storage site shall maintain the policy in full force and effect unless the department consents in writing to termination of the policy.

(4) Provision that the insurer may not cancel, terminate, or fail to renew the policy unless the owner or operator of the waste tire storage site fails to pay the premium. No cancellation, termination, or failure to renew may occur unless the department and the owner or operator of the waste tire storage site are notified by the insurer in writing at least one hundred twenty (120) days before such event.

  (c) The insurer shall either be licensed to transact the business of insurance or be eligible to provide insurance as an excess or surplus lines insurer in one (1) or more states. (Solid Waste Management Division; 329 IAC 15-5-8; filed Oct 10, 2000, 3:10 p.m.: 24 IR 332; readopted filed Nov 30, 2006, 4:16 p.m.: 20061227-IR-329050168FRA; readopted filed Jul 18, 2012, 2:26 p.m.: 20120815-IR-329120206BFA)