What is the required financial coverage per occurrence for petroleum marketers?

The required financial coverage per occurrence for petroleum marketers is $1,000,000. This amount is established to ensure that there are sufficient funds to cover potential environmental damages or cleanup costs associated with petroleum releases. It reflects the state's recognition of the risks involved in handling and storing petroleum products, as well as the potential impact on the environment and public health in case of a spill or contamination event.

Having this level of financial assurance plays a crucial role in promoting responsible management practices among petroleum marketers. It also serves as a safeguard for related parties, including the public and governmental agencies. The requirement for $1,000,000 helps ensure that marketers are financially capable of responding to incidents that could have severe implications if left unaddressed.