oil train insurance News

American International Group Inc., the largest commercial insurer in the U.S. and Canada, introduced a policy to help railroads handle losses from catastrophic accidents as more crude oil is shipped by trains. The insurer is offering $1 billion per occurrence …

In the event of a mass-casualty accident involving the derailment of a crude-carrying train in a densely populated urban area, who would be responsible for the compensation for deaths, injuries, damage to property and environmental clean up? The short answer …