Indiana Administrative Code
Title 329 - SOLID WASTE MANAGEMENT DIVISION
Article 16 - ELECTRONICS WASTE MANAGEMENT
Rule 11 - Financial Assurance
Section 11-5 - Insurance for closure and cleanup

Universal Citation: 329 IN Admin Code 11-5

Current through September 18, 2024

Authority: IC 13-14-8-7; IC 13-15; IC 13-19-3

Affected: IC 13-14; IC 13-30-2; IC 36-9-30

Sec. 5.

An owner, operator, or registrant that chooses to meet the financial assurance requirements of this article through insurance shall establish insurance for financial assurance in accordance with the following requirements:

(1) Provide evidence of insurance on forms:

(A) provided by the commissioner; or

(B) approved by the commissioner.

(2) All insurance must include the following:

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

(B) A provision that, upon written notification to the insurer by the commissioner that the owner, operator, or registrant has failed to perform final closure, the insurer shall make payments:
(i) in any amount, not to exceed the amount insured; and

(ii) to any person authorized by the commissioner.

(C) A provision that the owner, operator, or registrant shall maintain the policy in full force and effect unless the commissioner consents in writing to termination of the policy.

(D) A provision for assignment of the policy to a transferee owner, operator, or registrant.

(E) A provision that the insurer may not cancel, terminate, or fail to renew the policy, except for failure of the owner, operator, or registrant to pay the premium. No cancellation, termination, or failure to renew may occur unless the insurer notifies in writing the commissioner and owner, operator, or registrant at least one hundred twenty (120) days before the event.

(3) In one (1) or more states, including Indiana, the insurer shall either be:

(A) licensed to transact the business of insurance; or

(B) eligible to provide insurance as an excess or surplus lines insurer.

Disclaimer: These regulations may not be the most recent version. Indiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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