Petroleum Marketers Management Insurance Company, or PMMIC, is a licensed stock insurance company admitted in the state of Iowa. PMMIC was formed in January 2000, as a non-profit corporation designed to provide UST insurance coverage to Iowa UST owners. On November 8, 2000, all assets and liabilities of the former Iowa UST Insurance Fund (Iowa Comprehensive Petroleum UST Financial Responsibility Program) were transferred to PMMIC. A complete transition from state fund coverage to private insurance coverage was accomplished. After five years of successful operation, on September 28, 2005, PMMIC converted to a for profit stock company.
PMMIC provides environmental liability coverage for regulated petroleum storage tank facilities. Our policy satisfies state and federal financial responsibility requirements for regulated underground storage tanks. We are admitted and currently writing coverage in the state of Iowa. We insure both AST and UST systems. We can write coverage on an E&S basis throughout the United States.
Our goal is to protect the value of every site we insure, and to operate the company in a successful manner to ensure we can continue to provide environmental liability coverage for all of our customers. We have a comprehensive loss control and inspection program that helps every one of our customers to reduce losses from their facilities. The most cost effective protection is prevention of leaks from the petroleum storage tank system. Our rates take into consideration the risks associated with each tank system we insure. We offer competitive rates and an annual on-site inspection of every facility we insure.
If you are interested in purchasing coverage for your petroleum storage tank system, or if you need information on the best management practices for operating your facility, please contact us.
