Relating to insurance requirements for the granting of a hazardous liquid pipeline permit

This bill relates to insurance requirements for the granting of a hazardous liquid pipeline permit. The bill requires an applicant for a hazardous liquid pipeline permit to submit evidence to the Iowa utilities commission of a surety or insurance policy that ensures payment of all damages that may result from the construction or operation of the hazardous liquid pipeline before a permit may be granted by the commission. The surety or insurance policy must be sufficient to cover losses and injury resulting from construction of the hazardous liquid pipeline and from any discharge of content from the pipeline. The surety or insurance policy must also be sufficient to cover any person’s increased insurance costs, or the person’s inability to obtain insurance, due to the construction or presence of the pipeline. The bill requires the pipeline company to either purchase insurance on behalf of or reimburse any person who experiences increased insurance premiums or the inability to obtain insurance due to the construction or presence of the pipeline.