Amtrak has obtained $275 million in insurance protection against natural disaster damage to its Northeast Corridor infrastructure, the railroad announced.
The railroad used a catastrophe bond to secure the coverage, which lasts just under three years and helps protect against the kind of infrastructure damage that Amtrak experienced during Hurricane Sandy in October 2012.
Read more from Progressive Railroading.
Related News
- SMART-TD AND CSX CELEBRATE 40 YEARS OF SUCCESS
- SMART Convention Day 1: DOT secretary headlines day one of SMART General Convention
- SMART-TD, FRA announce federal regulation requiring two-person freight crews
- N.Y. special election — a chance to support Tom Suozzi, who supports our members
- ERMA lifetime maximum benefit to increase in 2024
- Rail labor collectively urges representatives to oppose House THUD bill
- SMART News episode 10 features Local 19 member on Biden endorsement, coverage of railroad victories, GP Coleman’s visit to Tenn. megaproject and more
- Veto means Nevada governor picked politics over safety
- Members of GO-953 ratify historic tentative agreement with Union Pacific
- Watch: Local sheet metal unions win back pay for wage theft and worker misclassification