We have been managing petroleum storage tank risks since 1999. Our UST experience began much earlier in 1984 with the adoption of RCRA Subtitle I, which began federal regulation of petroleum underground storage tanks. In 1986, Congress amended Subtitle I to add financial responsibility requirements to all regulated USTs. Several of our professionals have been addressing UST risk management issues since that time.
R&A Risk Professionals has been providing environmental risk management services to the petroleum marketing industry since 1999. We became a subsidiary of Petroleum Marketers Management Insurance Company (PMMIC) in 2014. PMMIC is an Iowa based property and casualty insurance company specializing in petroleum storage tank pollution liability coverage. R&A has provided staffing and administrative support to PMMIC since 2000. Our extensive experience includes third-party administration of financial responsibility programs for both public and private sector clients. R&A has developed unique risk financing mechanisms for clients when existing mechanisms were not adequate or affordable. Our clients include petroleum marketing associations, state agencies, private insurance companies, law firms, and other small and large businesses. R&A specializes in creating risk management and risk financing programs designed specifically for each client's need.
R&A developed and implemented an on-site inspection and loss control program that has revolutionized the risk management process associated with the petroleum storage and distribution industry. Our active corrective action oversight and claim management services have greatly reduced the loss costs associated with petroleum releases.
R&A has conducted over 50,000 on-site inspections of petroleum storage tank systems in the United States and provides regulatory inspections for approximately two-thirds of all regulated UST facilities in the State of Iowa. We conduct UST and AST inspections on behalf of the Missouri Petroleum Storage Tank Insurance Fund and UST regulatory inspections on behalf of the Missouri Department of Natural Resources. We perform UST loss control inspections for private clients throughout the United States. Our inspections include regulatory compliance inspections, loss control inspections, pre-purchase inspections, and 30-day and annual walkthrough inspections.
R&A provides Class A and Class B operator training for UST system operators. We also provide professional training, examination and certification for UST installers, UST inspectors, and UST removers.