SOLID WASTE PROCESSING AND DISPOSAL
(Rule 1200-01-07-.03, continued)
he will provide the owner or operator with a detailed written statement of reasons.
Each policy must contain a provision allowing assignment of the policy to a successor owner or operator. Such assignment may be conditional upon consent of the insurer, provided such consent is not unreasonably refused.
The policy must provide that the insurer may not cancel, terminate, or fail to renew the policy except for failure to pay the premium. The automatic renewal of the policy must, at a minimum, provide the insured with the option of renewal at the face amount of the expiring policy. If there is a failure to pay the premium, the insurer may elect to cancel, terminate, or fail to renew the policy by sending notice by certified mail to the owner or operator and the Commissioner. Cancellation, termination, or failure to renew may not occur, however, during the 120 days beginning with the date of receipt of the notice by both the Commissioner and the owner or operator, as evidenced by the return receipts. Cancellation, termination, or failure to renew may not occur and the policy will remain in full force and effect in the event that on or before the date of expiration:
The Commissioner deems the facility abandoned; or
The permit is terminated or revoked or a new permit is denied; or
Closure is ordered by the Commissioner or a U.S. District court of competent jurisdiction; or
The owner or operator is named as debtor in a voluntary or involuntary or involuntary proceeding under Title 11 (Bankruptcy), U.S. Code; or
The owner or operator must maintain the policy in full force and effect until
owner or alternate
consents to termination of the policy by the to pay the premium, without substitution of
financial assurance will constitute a significant violation of regulations, warranting such remedy as the Commissioner necessary. Such violation will be deemed to begin upon receipt
these deems by the
Commissioner of a notice of future cancellation, termination, or failure renew due to nonpayment of the premium, rather than upon the date expiration.
The premium due is paid.
Whenever the current closure and/or post-closure cost estimate increases to an amount greater than the face amount of the policy, the owner or operator, within 60 days after the increase, must either cause the face amount to be increased to an amount at least equal to the current closure and/or post-closure cost estimate and submit evidence of such increase to the Commissioner, or obtain other financial assurance as specified in this subparagraph to cover the increase. Whenever the current closure and/or post-closure cost estimate decreases, the face amount may be reduced to the amount of the current cost estimate following written approval by the Commissioner.
The Commissioner will give written consent to the owner or operator that he may terminate the insurance policy when:
May, 2010 (Revised)