Arizona Retroactive Coverage
Arizona owners and operators are required to provide proof of financial responsibility (FR) to the ADEQ as part of federal and state regulations. In addition, if their FR is handled by an insurance policy, it must meet the new ADEQ retroactive (retro) coverage requirement. This requirement can be met by having coverage that extends to one of three options below:
- Date of the most recent baseline assessment (a.k.a. site assessment), pursuant to section 49-1052
- Date of the underground storage tank (UST) system installation
- Earliest retroactive coverage date of the previous insurance policy or alternative FR mechanism
Some insurance carriers offer retroactive coverage, but not all. If the carrier does offer retro coverage, it’s often for an additional fee.
For the remainder of 2019, PMMIC is waiving our fee for retro coverage for AZ pollution liability policies. We will meet the ADEQ requirement to issue retro coverage dates on current and previous coverage for no additional cost!
Arizona marketers and agents interested in learning more may contact our office or request a quote.
PMMIC will also be leading an education session at APMA’s 2019 Annual Conference and Golf Tournament on UST Financial Responsibility Tips. In addition to discussing retroactive coverage requirements, we’ll be talking about questions to ask your agent, reporting requirements for suspected releases, and new UST rules straight from the EPA.
Contact APMA for details on registering to attend!