Page:United States Statutes at Large Volume 100 Part 2.djvu/605

 PUBLIC LAW 99-499—OCT. 17, 1986

100 STAT. 1707

"(d) LIMITATION.—Notwithstanding any other provision of this Act, no action under this Act by an Indian tribe shall be barred until the later of the following: "(1) The applicable period of limitations has expired. "(2) 2 years after the United States, in its capacity as trustee for the tribe, gives written notice to the governing body of the, tribe that it will not present a claim or commence an action on behalf of the tribe or fails to present a claim or commence an action within the time limitations specified in this Act.". SEC. 208. INSURABILITY STUDY. Section 301 of CERCLA is amended by adding the following new subsection at the end thereof: "(g) INSURABILITY STUDY.— "(1) STUDY BY COMPTROLLER GENERAL.—The Comptroller Gen-

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eral of the United States, in consultation with the persons described in paragraph (2), shall undertake a study to determine the insurability, and effects on the standard of care, of the liability of each of the following: (A) Persons who generate hazardous substances: liability for costs and damages under this Act. "(B) Persons who own or operate facilities: liability for costs and damages under this Act. "(C) Persons liable for injury to persons or property caused by the release of hazardous substances into the environment. "(2) CONSULTATION.—In conducting the study under this subsection, the Comptroller General shall consult with the following: "(A) Representatives of the Administrator. "(B) Representatives of persons described in subparagraphs (A) through (C) of the preceding paragraph. "(C) Representatives (i) of groups or organizations comprised generally of persons adversely affected by releases or threatened releases of hazardous substances and (ii) of groups organized for protecting the interests of consumers. "(D) Representatives of property and casualty insurers. "(E) Representatives of reinsurers. "(F) Persons responsible for the regulation of insurance at the State level. "(3) ITEMS EVALUATED.—The study under this section shall include, among other matters, an evaluation of the following: "(A) Current economic conditions in, and the future outlook for, the commercial market for insurance and reinsurance. "(B) Current trends in statutory and common law '-v^/ remedies. "(C) The impact of possible changes in traditional standards of liability, proof, evidence, and damages on existing statutory and common law remedies. "(D) The effect of the standard of liability and extent of the persons upon whom it is imposed under this Act on the protection of human health and the environment and on the availability, underwriting, and pricing of insurance coverage. "(E) Current trends, if any, in the judicial interpretation and construction of applicable insurance contracts, together

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