FINANCIAL MECHANISMS FOR STORAGE TANKS to demonstrate financial responsibility - dep state fl 2025

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Facilities with aboveground storage tanks (ASTs) holding oils of any kind may be subject to U.S. EPAs Spill Prevention, Control, and Countermeasure (SPCC) regulation (40 CFR Part 112).
Financial responsibility law (commonly associated with vehicles) requires an individual or business to prove that they have enough money or assets to pay for damages resulting from an accident.
Other insurance forms required in Florida An FR-44 is required in Florida and a few other states when alcohol is involved in the incident or for other severe infractions. An SR-22 is required in Florida for drivers who have committed a serious traffic violation, like reckless driving or driving without insurance.
For example, Californias financial responsibility law requires auto insurance companies to provide a minimum standard of $15,000 for a single injury or death, $30,000 for injury to, or death of, more than one person in a single accident, as well as $5,000 for property damage.
Florida requires drivers to have additional insurance in case they have previously caused accidents that injured someone or have been convicted of driving under the influence or certain other offenses. This is called bodily injury liability coverage. It amounts to $10,000 per person and $20,000 per crash.
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In Florida, the minimum insurance coverage requirement under the financial responsibility law is $100,000 per person for bodily injury, $300,000 per accident for bodily injury, and $50,000 for property damage per accident.
Mechanism - a method of providing financial assurance in which to pay for corrective action and/or third-party compensation costs caused by accidental releases from petroleum underground storage tanks. Occurrence - an accident which results in an unauthorized release of petroleum from an underground storage tank.

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