| I: Insurance
| No. |
Protocol |
Full
Compliance
Score
|
Actual
Score |
| I-1 |
The warehouse facility has documentation which indicates a current policy of insurance coverage for a minimum of $500,000 for off-site & $250,000 for on-site pollution insurance coverage which meets the required Agrichemical Warehousing Standards Association Standards.
Observations:
|
mandatory |
|
I-1
The auditor will Examine the "Confirmation Of Insurance Coverage" form to confirm that the required coverage is current & in force for both on-site and off-site pollution insurance to the minimum level specified as confirmed by the insurance representative. See Bulletin #16 and Appendix II.
Regarding the insurance policy standard, the following summarizes the minimum coverages & limits require for losses that are "unexpected & unintended" from the standpoint of the insured:
A) Coverage in the amount of at least $250,000 for on-site clean-up costs sustained by the insured due to:
i) Pre-existing pollution conditions discovered during the policy period; or
ii) New pollution conditions commencing during the policy period.
B) Legal liability in the amount of at least $250,000 covering third party claims for bodily injury, property damage:
i) On-site pre-existing pollution conditions discovered during the policy period; or
ii) On-site new pollution conditions commencing during the policy period.
C) Legal liability in the amount of at least $500,000 covering third party claims for bodily injury, property damage or clean-up costs as the result of:
i) Off-site pre-existing pollution conditions discovered during the policy period; or
ii) Off-site new pollution conditions commencing during the policy period.
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