Aon Risk Solutions, the global risk management business of Aon plc, has launched a new product designed to support the railroad industry, including Class I railroads. Called the Cantilever Excess Pollution Liability product, this new offering addresses the railroad industry’s need for insurance coverage to adequately protect the communities and environment where railroads operate.
The coverage is designed to address specific environmental incidents and is applied over and above railroads’ existing insurance policies to appropriately insure transportation of hazardous or environmentally sensitive products.
According to Veronica Benzinger, managing director and chief broking officer for Aon Risk Solutions’ Environmental Services Practice, the product is designed to respond to the railroad industry’s risk management needs and community objectives. It was developed in conjunction with carrier partners to establish an exclusive arrangement to provide this coverage to interested Aon clients.