- Monitor information provided on a rolling/regular basis as to the financial viability of members or delegate this task.
- Monitor membership and any financial provision evidenced by them to improve the ability to respond quickly to any negative changes or delegate this task.
- Investigate notification of any:
- incidents or events that affect the financial viability of the fund/pool, e.g. reductions in members’ credit ratings, insolvencies;
- change in the membership of the fund/pool, the amount of funding held by it; and
- breach by a member of the criteria for membership.
- Consider carefully whether financial provision in lieu of the fund/pool is required and, if so, what type.
A Practical Guidance on Financial Provision for Environmental Liabilities