The insurance policies that most railroads have cannot cover the costs of many crashes or derailments involving oil trains, the Department of Transportation said.
New safety rules for oil trains proposed last week would not mandate higher insurance levels than the $25 million common to the industry.
But a DOT analysis released along with the rule found that the costs of oil train disaster average about $25 million, meaning many major incidents would exceed the threshold.
Read the complete story at The Hill.
Related News
- Assembly, No. 1672
- SMART-TD’s Public Comment Opposing CSX’s “Zero-to-Zero” Push
- Local 435, North Florida Building Trades win big on Jacksonville Jaguars stadium
- SMART Mobile App Flyer
- House Docket, No. 2682
- FRA Waivers for Autonomous Rail Testing
- Riders resist driverless technologies in Chicagoland
- Chicago Transportation Survey-Driverless Technology
- National Negotiations advance with NRLC meeting on Jan. 23
- Union organizes holiday cheer throughout the nation