NR 661.0147(1)(e)(e) An owner or operator may meet the requirements of this section by obtaining a trust fund for liability coverage as specified in sub. (10). NR 661.0147(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 paragraph, the owner or operator shall specify at least one assurance as “primary” coverage and shall specify other assurance as “excess” coverage. NR 661.0147(1)(g)(g) An owner or operator shall notify the department in writing within 30 days whenever one of the following occurs: NR 661.0147(1)(g)1.1. A claim results in a reduction in the amount of financial assurance for liability coverage provided by a financial instrument authorized in pars. (a) to (f). NR 661.0147(1)(g)2.2. A certification of valid claim for bodily injury or property damages caused by a sudden or non-sudden accidental occurrence arising from the operation of a hazardous secondary material reclamation facility or intermediate facility is entered between the owner or operator and third-party claimant for liability coverage under pars. (a) to (f). NR 661.0147(1)(g)3.3. A final court order establishing a judgment for bodily injury or property damage caused by a sudden or non-sudden accidental occurrence arising from the operation of a hazardous secondary material reclamation facility or intermediate facility is issued against the owner or operator or an instrument that is providing financial assurance for liability coverage under pars. (a) to (f). NR 661.0147(2)(2) Coverage for non-sudden accidental occurences. An owner or operator of a hazardous secondary material reclamation facility or intermediate facility with land-based units, as defined in s. NR 660.10 (67m), which are used to manage hazardous secondary material excluded under s. NR 661.0004 (1) (x) or a group of such facilities, shall demonstrate financial responsibility for bodily injury and property damage to third parties caused by non-sudden accidental occurrences arising from operations of the facility or group of facilities. The owner or operator shall have and maintain liability coverage for non-sudden accidental occurrences in the amount of at least $3 million per occurrence with an annual aggregate of at least $6 million, exclusive of legal defense costs. An owner or operator who meets the requirements of this section may combine the required per-occurrence coverage levels for sudden and non-sudden accidental occurrences into a single per-occurrence level, and combine the required annual aggregate coverage levels for sudden and non-sudden accidental occurrences into a single annual aggregate level. An owner or operator who combines coverage levels for sudden and non-sudden accidental occurrences shall maintain liability coverage in the amount of at least $4 million per occurrence and an annual aggregate amounting to $8 million. This liability coverage may be demonstrated in any of the following ways: NR 661.0147(2)(a)(a) An owner or operator may demonstrate the required liability coverage by having liability insurance. The liability insurance shall meet all of the following conditions: NR 661.0147(2)(a)1.1. Each insurance policy shall be amended by attachment of the hazardous secondary material 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 661.0151 (8). The wording of the certificate of insurance shall be identical to the wording specified in s. NR 661.0151 (9). The owner or operator shall submit a signed duplicate original of the endorsement or the certificate of insurance to the department. If requested by the department, the owner or operator shall provide a signed duplicate original of the insurance policy. NR 661.0147(2)(a)2.2. Each insurance policy shall 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 one or more states. NR 661.0147(2)(b)(b) An owner or operator may meet the requirements of this section by passing a financial test or using the guarantee for liability coverage as specified in subs. (6) and (7). NR 661.0147(2)(c)(c) An owner or operator may meet the requirements of this section by obtaining a letter of credit for liability coverage as specified in sub. (8). NR 661.0147(2)(d)(d) An owner or operator may meet the requirements of this section by obtaining a surety bond for liability coverage as specified in sub. (9). NR 661.0147(2)(e)(e) An owner or operator may meet the requirements of this section by obtaining a trust fund for liability coverage as specified in sub. (10). NR 661.0147(2)(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 paragraph, the owner or operator shall specify at least one assurance as “primary” coverage and shall specify other assurance as “excess” coverage. NR 661.0147(2)(g)(g) An owner or operator shall notify the department in writing within 30 days whenever one of the following occurs: NR 661.0147(2)(g)1.1. A claim results in a reduction in the amount of financial assurance for liability coverage provided by a financial instrument authorized in pars. (a) to (f). NR 661.0147(2)(g)2.2. A certification of valid claim for bodily injury or property damages caused by a sudden or non-sudden accidental occurrence arising from the operation of a hazardous secondary material treatment or storage facility is entered between the owner or operator and third-party claimant for liability coverage under pars. (a) to (f). NR 661.0147(2)(g)3.3. A final court order establishing a judgment for bodily injury or property damage caused by a sudden or non-sudden accidental occurrence arising from the operation of a hazardous secondary material treatment or storage facility is issued against the owner or operator or an instrument that is providing financial assurance for liability coverage under pars. (a) to (f). NR 661.0147(3)(3) Request for variance. If an owner or operator demonstrates to the satisfaction of the department that the levels of financial responsibility required by sub. (1) or (2) are not consistent with the degree and duration of risk associated with treatment or storage at the facility or group of facilities, the owner or operator may obtain a variance from the department. The request for a variance shall be submitted in writing to the department. If granted, the variance will take the form of an adjusted level of required liability coverage based on the department’s assessment of the degree and duration of risk associated with the ownership or operation of the facility or group of facilities. The department may require an owner or operator who requests a variance to provide technical and engineering information as deemed necessary by the department to determine a level of financial responsibility other than that required by sub. (1) or (2). NR 661.0147(4)(4) Adjustments by the department. if the department determines that the levels of financial responsibility required under sub. (1) or (2) are not consistent with the degree and duration of risk associated with treatment or storage at the facility or group of facilities, the department may adjust the level of financial responsibility required under sub. (1) or (2) as may be necessary to protect human health and the environment. This adjusted level will be based on the department’s assessment of the degree and duration of risk associated with the ownership or operation of the facility or group of facilities. In addition, if the department determines that there is a significant risk to human health and the environment from non-sudden accidental occurrences resulting from the operations of a facility that is not a surface impoundment, pile, or land treatment facility, the department may require that the owner or operator of the facility comply with sub. (2). The owner or operator shall furnish to the department, within a reasonable time, any information the department requests to determine whether cause exists for such adjustments of level or type of coverage. NR 661.0147(5)(5) Period of coverage. Within 60 days after receiving certifications from the owner or operator and a qualified professional engineer that all hazardous secondary material have been removed from the facility or a unit at the facility and the facility or a unit has been decontaminated in accordance with the approved plan under s. NR 661.0143 (8), the department shall notify the owner or operator in writing that the owner or operator is no longer required under s. NR 661.0004 (1) (x) 6. f. to maintain liability coverage for that facility or a unit at the facility, unless the department has reason to believe that that all hazardous secondary material have not been removed from the facility or unit at a facility or that the facility or unit has not been decontaminated in accordance with the approved plan. NR 661.0147(6)(a)(a) An owner or operator may satisfy the requirements of this section by demonstrating that the owner or operator passes a financial test as specified in this subsection. To pass this test the owner or operator shall meet the criteria of either of the following: NR 661.0147(6)(a)1.a.a. Net working capital and tangible net worth each at least 6 times the amount of liability coverage to be demonstrated by this test. NR 661.0147(6)(a)1.c.c. Assets in the United States amounting to at least 90 percent of the owner’s or operator’s total assets, or at least 6 times the amount of liability coverage to be demonstrated by this test.