Financial Assurance Program

Last updated April 29, 2024.

You can now review frequently asked questions on the Financial Assurance Program. If you have additional questions, please contact us.

A summary of comments PLIA received during the Financial Assurance Program listening sessions on September 19 and October 24, 2023, is now available (link).

 

The Washington State Legislature directed the Washington State Pollution Liability Insurance Agency (PLIA) to transition the Underground Storage Tank Reinsurance Program to a state-led Financial Assurance Program. The reinsurance program provides funds to private insurers who sell insurance policies to underground storage tank (UST) owners and operators. For each policy, the state, through PLIA, pays up to $925,000 of each $1 million claim with the insurer covering the rest. Reinsurance ensures the availability of policies, but all claim and coverage decisions are made by private insurance companies. A state-led Financial Assurance Program will allow PLIA to make claim and coverage process decisions. PLIA will directly assist UST owners and operators with funds to address contamination and increase successful cleanups.

PLIA is currently developing the Financial Assurance Program and will post updates on the process to this page.