A 10-year regulation in Florida, requiring businesses with underground tanks storing hazardous materials to replace them by the end of this year, is the driver behind a new storage tank system and an innovative new insurance policy for those tanks.
Because of Florida's proximity to the ocean and high groundwater levels, the issue has important environmental connotations.
“When you've got fuel in underground storage tank situations, the prominent risk is the release of product into the environment that causes a pollution event,” said Ronald Bachmeier, chief operating officer of ZCL Composites in Edmonton, Canada.
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