What is the required aggregate coverage for tanking corrective action and compensating third parties for owners and operators with 100 or fewer USTs?

The required aggregate coverage for tanking corrective action and compensating third parties for owners and operators with 100 or fewer underground storage tanks (USTs) is indeed 1 million dollars. This requirement is in place to ensure that owners and operators have sufficient financial resources to address potential leaks and spills from their tanks, which can pose significant environmental and health risks.

The 1 million dollar coverage is considered a standard threshold that reflects the potential liability associated with underground storage tank operations. This amount is intended to cover both remediation costs for contamination and any third-party claims arising from such incidents. By setting this aggregate coverage level, regulatory agencies aim to protect public health and the environment while ensuring that owners and operators are financially prepared to handle issues that may arise from their UST systems.

For context, the other amounts presented are either too low or, in the case of the higher values, are not a regulatory requirement for owners and operators with 100 or fewer USTs, making them unsuitable options in this scenario. The 1 million dollar threshold strikes a balance between providing adequate coverage while not imposing excessive financial burdens on smaller operators.