9VAC25-32-790. Liability insurance.
A. Each pollution and general liability insurance policy must be amended by attachment of an endorsement or evidenced by a certificate of liability insurance. The wording of the endorsement must be identical to that specified in the Biosolids Liability Endorsement form. The wording of the certificate of insurance must be identical to that specified in the Certificate of Liability Insurance form. The permit holder or applicant must submit a signed duplicate original of the endorsement or the certificate of insurance to the department. If requested by the department, the permit holder or applicant must provide a signed duplicate original of the insurance policy. An applicant for a new permit must submit the signed duplicate original of the biosolids liability endorsement or the certificate of liability insurance to the department at least 60 days before the initial application of biosolids. The insurance must be effective before the initial application of biosolids.
B. Each insurance policy must be issued by an insurer that, at a minimum, is licensed to transact the business of insurance or eligible to provide insurance as an excess or surplus lines insurer in Virginia and the insurer shall be in good financial position, as demonstrated by the AM Best (A++, A+, A, A-, B++, B+), Standard and Poor's (AAA, AA, A, BBB), or Moody's (Aaa, Aa, A, Baa) financial strength ratings.
§ 62.1-44.15 of the Code of Virginia.
Derived from Virginia Register Volume 29, Issue 24, eff. September 1, 2013.