Mar 03, 2016
If your business uses underground tanks to store petroleum fuels or other hazardous products, you need to remember that you face unique potential liabilities. Limit those liabilities by taking action to prevent storage tank leaks. And remember: all storage tanks for hazardous materials must meet Environmental Protection Agency (EPA) standards. The deadline for existing underground storage tanks to meet EPA standards was December 1998.
Take stock of what you've got! The American Insurance Services Group, Inc. notes that your first line of defense is to take stock of what you store underground.
Measure the amount of product stored in each tank on a daily basis. Reconcile your sales and receipts to the amount of the product in the tank each day. Your physical and written inventories commonly will have small discrepancies. But sudden or gradual shortages or overages in product compared to what your written records indicate may reveal signs of real trouble.
Also monitor the water level in the bottom of tanks since changes in water levels could indicate a leak. Don't panic if the water level has changed. It may simply indicate that gauges or fill caps are loose. Be sure to check those areas.
Don't hesitate: investigate! Be aware of these signs of potential tank leakage:
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