Financial Assurance for Medical Waste Transporters
Owners or operators who transport medical waste should refer to Subchapter U of Chapter 37 which establishes requirements and mechanisms for demonstrating financial assurance for automobile liability and pollution liability.
An owner or operator that is subject to financial assurance must submit an originally signed financial assurance mechanism prior to issuance of a registration. The signed financial mechanisms must be in effect at the time it is submitted.
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Financial Assurance Requirements
- A combined, single-limit automobile liability insurance policy with limits of at least $1,000,000 per accident, exclusive of legal defense costs.
- For 1-7 Vehicles: A pollution liability policy with a limit of $500,000, exclusive of legal defense costs.
- For more than 7 vehicles: A pollution liability policy with a limit of $1,000,000, exclusive of legal defense costs.
An irrevocable letter of credit payable to TCEQ. The amount of the letter of credit required depends on the number of vehicles registered. Refer to Subchapter U of Chapter 37 for required amounts.
Types of Financial Assurance Mechanisms
- An originally signed certificate of insurance to demonstrate auto liability coverage
- An original paper MCS-90 form or letter of credit to demonstrate pollution liability coverage
MCS-90 Form requirements:
Policy number on MCS-90 form must match policy number on certificate of insurance Name on MCS-90 form must match name on certificate of insurance
- Original Form E or cancellation statement on certificate
Form E requirements:
Name of Commission should read: TCEQ not Department of Transportation.
Policy number on Form E should match policy number on certificate of insurance.
A paper filing is required; TCEQ does not have electronic filing for Form E.
Cancellation Statement requirements:
It should read exactly: "Should any of the above described policies be cancelled before the expiration date thereof, the issuing company will mail a 60-day written cancellation notice to the certificate holder."