Underground Storage Tanks Section
Address
Environmental Remediation Program
P.O. Box 176
Jefferson City, MO 65102-0176
United States
Petroleum underground storage tank (UST) owners and operators are required to have the funds to pay for cleanup and other damages that may occur from a release from their USTs. This requirement is known as financial responsibility. Detailed information about the financial responsibility requirements can be found in Code of State Regulations 10 CSR 26-3.
Who must obtain financial responsibility?
Both owners and operators of operating petroleum USTs are responsible for complying with the financial responsibility requirement, although only one party needs to obtain financial responsibility.
Why is financial responsibility important?
Contamination, even from small UST releases, can threaten the health and safety of people and the environment. Tank owners and operators are responsible for cleaning up spills and releases from their tanks, which can become very expensive, very quickly. In Missouri, petroleum UST owners and operators are required to have funds set aside to pay for the cleanup and other damages that may occur from a release from their UST systems.
How much coverage is needed?
Financial responsibility must cover taking corrective action and compensating third parties for bodily injury or property damage resulting from a release. The required amount of financial responsibility is typically $1 million per occurrence and $1 million annual aggregate, but there are some exceptions:
- Non-marketers with less than 10,000 gallons per month throughput need only obtain $500,000 per occurrence
- Owners of more than 100 UST systems nationwide must obtain $2 million annual aggregate coverage
How do I demonstrate financial responsibility?
The following methods may be used, either singly or in combination, to demonstrate financial responsibility. Specific requirements for each mechanism can be found in 10 CSR 26-3. Examples and required wording for each are included in the appendices to the regulations, beginning on page 5.
- Missouri’s Petroleum Storage Tank Insurance Fund (PSTIF)
- Financial test of self-insurance
- Insurance or risk retention group coverage
- Letter of credit
- Trust fund
- Surety bond
- Guarantee
- Standby trust fund
The following additional methods are for use by local governments:
- Local government financial test
- Local government bond rating test
How do I apply to the Missouri UST Insurance Fund?
If you wish to use PSTIF as your method of financial responsibility, call 800-765-2765 or 573-761-4060 for an application. PSTIF provides $1 million per occurrence and $2 million annual aggregate coverage with a $10,000 deductible. Participation in the insurance fund is voluntary. Visit the PSTIF website.