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Eastern Railroad Discussion > insurance (derailments)Date: 08/27/05 19:16 insurance (derailments) Author: photoguy24141 been wondering for year or so, whenever a big derailment happens like for instance NS autorack train collides with locos on another track and the train is pulling loaded autoracks of brand new ford size trucks, does insurance pay for all this? or just the trucks or locos? i mean how does all this multi million dollar mess work out on mainline railroads?
Date: 08/28/05 12:41 Re: insurance (derailments) Author: Lackawanna484 Generally, the railroads self-insure for the first fifty, hundred, or hundred-fifty million of damages. Any liability beyond that is handled by outside insurance plans. Sometimes in layers, and often in conjunction with the shipper's own insurance.
Think of it like your deductible on auto insurance. You're not gonna file a claim for a hundred dollar windshield damage, you pay it yourself. |