Re: Insurance Records Matching System / Petroleum Storage Tanks
One of the main functions of the PST (Petroleum Storage Tank) systems investigators is to verify the PST owner has current insurance. While this may seem to be a trivial detail, the financial risk to every state and municipality is severe if a major leak occurs during a lapse in insurance.
Therefore, I am proposing there be a policy number matching system to be used to advise every PST owner/operator within 30 days of a policy lapsing if the current information is not updated on the PST website by the PST owner and/or operator. The proposed system is identical to one currently in use for matching auto insurance and DMV records in Texas. Therefore, the policy number matching system has been proven as feasible.
The proposed matching system (which is already in use with the Texas DMV for auto insurance) could increase business for insurance companies, avoid operators avoiding buying insurance because they haven’t been audited for consecutive years, and avoid major financial risk to states and municipalities.
Re: Insurance Records Matching System / Petroleum Storage Tanks
One of the main functions of the PST (Petroleum Storage Tank) systems investigators is to verify the PST owner has current insurance. While this may seem to be a trivial detail, the financial risk to every state and municipality is severe if a major leak occurs during a lapse in insurance.
Therefore, I am proposing there be a policy number matching system to be used to advise every PST owner/operator within 30 days of a policy lapsing if the current information is not updated on the PST website by the PST owner and/or operator. The proposed system is identical to one currently in use for matching auto insurance and DMV records in Texas. Therefore, the policy number matching system has been proven as feasible.
The proposed matching system (which is already in use with the Texas DMV for auto insurance) could increase business for insurance companies, avoid operators avoiding buying insurance because they haven’t been audited for consecutive years, and avoid major financial risk to states and municipalities.