NR 665.0145(7)(d)(d) The owner or operator may accelerate payments into the escrow account or may deposit the full amount of the current long-term care cost estimate at the time the account is established. However, the owner or operator shall maintain the value of the account at no less than the value that the account would have if annual payments were made as specified in par. (c).

NR 665.0145(7)(e)(e) If the owner or operator establishes a long-term care escrow account after having used one or more alternate mechanisms specified in this section, the first payment shall be in at least the amount that the account would contain if the escrow account were established initially and annual payments made as specified in par. (c).

NR 665.0145(7)(f)(f) After the pay-in period is completed, whenever the current long-term care cost estimate changes during the operating life of the facility, the owner or operator shall compare the new estimate with the escrow agent’s most recent annual valuation of the escrow account. If the value of the account is less than the amount of the new estimate, the owner or operator, within 60 days after the change in the cost estimate, shall either deposit an amount into the account so that its value after this deposit at least equals the amount of the current long-term care cost estimate, or obtain other financial assurance as specified in this section to cover the difference.

NR 665.0145(7)(g)(g) During the operating life of the facility, if the value of the escrow account is greater than the total amount of the current long-term care cost estimate, the owner or operator may submit a written request to the department for release of the amount in excess of the current long-term care cost estimate.

NR 665.0145(7)(h)(h) If an owner or operator substitutes other financial assurance as specified in this section for all or part of the escrow account, the owner or operator may submit a written request to the department for release of the amount in excess of the current long-term care cost estimate covered by the escrow account.

NR 665.0145(7)(i)(i) Within 60 days after receiving a request from the owner or operator for release of funds as specified in par. (g) or (h), the department will instruct the escrow agent to release to the owner or operator funds as the department specifies in writing.

NR 665.0145(7)(k)(k) An owner or operator or any other person authorized to conduct long-term care may request reimbursements for long-term care expenditures by submitting itemized bills to the department. Within 60 days after receiving bills for long-term care activities, the department will instruct the escrow agent to make reimbursements in those amounts as the department specifies in writing, if the department determines that the long-term care expenditures are in accordance with the approved long-term care plan or otherwise justified. If the department does not instruct the escrow agent to make the reimbursements, the department will provide the owner or operator with a detailed written statement of reasons.

NR 665.0145(8)(8) Use of multiple financial mechanisms. An owner or operator may satisfy the requirements of this section by establishing more than one financial mechanism per facility. These mechanisms are limited to trust funds, surety bonds guaranteeing payment, deposits with the department, escrow accounts, letters of credit and insurance. The mechanisms shall be as specified in subs. (1) to (4), (6) and (7) except that it is the combination of mechanisms, rather than the single mechanism, which shall provide financial assurance for an amount at least equal to the current long-term care cost estimate. The department may use any or all of the mechanisms to provide for long-term care of the facility.

NR 665.0145(9)(9) Use of a financial mechanism for multiple facilities. An owner or operator may use a financial assurance mechanism specified in this section to meet the requirements of this section for more than one facility. Evidence of financial assurance submitted to the department shall include a list showing, for each facility, the EPA identification number, name, address and the amount of funds for long-term care assured by the mechanism. If the facilities covered by the mechanism are in more than one state, identical evidence of financial assurance shall be submitted to and maintained with the state agency regulating hazardous waste or with the appropriate EPA regional administrator if the facilities are located in unauthorized states. The amount of funds available through the mechanism shall be no less than the sum of funds that would be available if a separate mechanism had been established and maintained for each facility. In directing funds available through the mechanism for long-term care of any of the facilities covered by the mechanism, the department may direct only the amount of funds designated for that facility, unless the owner or operator agrees to the use of additional funds available under the mechanism.

NR 665.0145(10)(10) Release of the owner or operator from the requirements of this section. Within 60 days after receiving certifications from the owner or operator and a qualified professional engineer that the long-term care period has been completed in accordance with the approved long-term care plan, the department will notify the owner or operator in writing that the owner or operator is no longer required by this section to maintain financial assurance for long-term care of that unit, unless the department has reason to believe that long-term care has not been in accordance with the approved long-term care plan. The department will provide the owner or operator a detailed written statement of any reason to believe that long-term care has not been in accordance with the approved long-term care plan.

NR 665.0146NR 665.0146 Use of a mechanism for financial assurance of both closure and long-term care. An owner or operator may satisfy the requirements for financial assurance for both closure and long-term care for one or more facilities by using a trust fund, surety payment bond, deposit with the department, escrow account, letter of credit, insurance or net worth test that meets the specifications for the mechanism in both ss. NR 665.0143 and 665.0145. The amount of funds available through the mechanism shall be no less than the sum of funds that would be available if a separate mechanism had been established and maintained for financial assurance of closure and of long-term care.

NR 665.0147(1)(1) Coverage for sudden accidental occurrences. An owner or operator of a hazardous waste treatment, storage or disposal facility, or a group of facilities, shall demonstrate financial responsibility for bodily injury and property damage to third parties caused by sudden accidental occurrences arising from operations of the facility or group of facilities. The owner or operator shall have and maintain liability coverage for sudden accidental occurrences in the amount of at least $1 million per occurrence with an annual aggregate of at least $2 million, exclusive of legal defense costs. This liability coverage may be demonstrated as specified in par. (a), (b), (c), (d), (e) or (f):

NR 665.0147(1)(a)1.1. Each insurance policy shall be amended by attachment of the hazardous waste facility liability endorsement, or evidenced by a certificate of liability insurance. The wording of the endorsement shall be identical to the wording specified in s. NR 664.0151 (9). The wording of the certificate of insurance shall be identical to the wording specified in s. NR 664.0151 (10). The owner or operator shall submit a signed duplicate original of the endorsement or the certificate of insurance to the department. If the facilities are located in more than one state, identical evidence of financial assurance shall be submitted to and maintained with the state agency regulating hazardous waste or with the appropriate EPA regional administrator if the facilities are located in unauthorized states. If requested by a regional administrator or the department, the owner or operator shall provide a signed duplicate original of the insurance policy.

NR 665.0147(1)(a)3.3. The department, after conferring with the Wisconsin insurance commissioner, shall determine the acceptability of a surplus lines or captive insurance company to provide coverage for proof of financial responsibility. The department shall ask the insurance commissioner to provide a financial analysis of the insurer including a recommendation as to the insurer’s ability to provide the required coverage. The department may require a periodic review of the acceptability of a surplus lines or captive insurance company.

NR 665.0147(1)(f)(f) An owner or operator may demonstrate the required liability coverage through the use of combinations of insurance, financial test, guarantee, letter of credit, surety bond and trust fund, except that the owner or operator may not combine a financial test covering part of the liability coverage requirement with a guarantee unless the financial statement of the owner or operator is not consolidated with the financial statement of the guarantor. The amounts of coverage demonstrated shall total at least the minimum amounts required by this section. If the owner or operator demonstrates the required coverage through the use of a combination of financial assurances under this subsection, the owner or operator shall specify at least one assurance as “primary” coverage and shall specify other assurance as “excess” coverage.