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DOT: Rail insurance inadequate for oil train accidents

(Source: Politico, August 6, 2014)

WASHINGTON, D.C. — Most freight railroad insurance policies couldn’t begin to cover damage from a moderate oil train accident, much less a major disaster. And the Department of Transportation’s own database of oil train incidents is flawed because some railroads and shippers provide incomplete information that far understates property damage. Those conclusions come from a DOT analysis of its own rule proposed to address the series of troubling derailments across North America as shipments of oil by rail surge.

Full story: Politico

Wednesday, August 06, 2014

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