(1) Applicability of mechanism. An owner or operator may satisfy the requirements of WAC 173-360A-1015 by obtaining liability insurance that conforms to the requirements of this section from a qualified insurer or risk retention group. Such insurance may be in the form of a separate insurance policy or an endorsement to an existing insurance policy.

(2) Eligibility of provider. Each insurance policy must be issued by an insurer or a risk retention group 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.

(3) Content of policy. Each insurance policy must be amended by an endorsement worded as specified in WAC 173-360A-1082 or evidenced by a certificate of insurance worded as specified in WAC 173-360A-1083, except that instructions in brackets must be replaced with the relevant information and the brackets deleted. Each insurance policy must cover a claim arising from an accidental release arising from the operation of underground storage tanks, regardless of how the release was discovered or identified. No endorsement may amend an insurance policy to restrict coverage of such a claim based on the how the release was discovered or identified.