Steve Piatkowski, Gerry Rojewski and Robert Winterburn
September 2014
As businesses seek to meet the stricter federal requirements, while potentially taking on greater financial responsibility, they should adopt a more proactive approach to evaluating and mitigating the risks associated with their underground storage tanks. Training is an important consideration, both to meet state or federal mandates and to develop and deploy best practices for operation, maintenance and emergency response. Business owners should consult with tank management experts for training and for help in managing their tank systems to reduce their exposures, enhance spill prevention and develop countermeasures plans. Experts can help in assessing the conditions of existing tanks and secondary containment systems and recommend upgrades where necessary to comply with regulations.
To better manage costs and potentially limit liability in the event of a spill, companies may want to work with an insurance carrier that can provide immediate support after a spill to handle reporting requirements. The failure to meet the reporting requirements can result in costly fines. When it comes to financial responsibility, insurance may be an affordable alternative driven by the age and condition of the tanks. Tank insurance is readily available in the marketplace today through either online portals or traditional desktop underwriting.
Operators of underground storage tanks face challenges on a number of fronts today, from stricter regulations to heightened financial responsibility. Because of the complexities involved in the systems, the regulations and the economic ramifications, tank operators should seek out expert help to make sure that they are not only meeting the regulations, but also protecting the environment and their businesses.