New Jersey is negotiating to reclaim part of nearly $162 million paid to insure the Hudson River rail tunnel project that Gov. Chris Christie scrapped four months ago.
An official says locking in insurance coverage saved taxpayers millions because it insulated the project from potential price increases.
NJ Transit told The Record newspaper it is negotiating with a group of 20 insurance companies.
NJ Transit’s government and external affairs chief Paul Wyckoff told the newspaper in a written response the talks are focused on protecting taxpayers.
Christie scrapped the $8.7 billion project, which sought to double rail passenger capacity between New Jersey and Manhattan, because of potential cost overruns.
Topics New Jersey
Was this article valuable?
Here are more articles you may enjoy.
70% of Drivers Say They’ve Felt Unfairly Judged by Auto Insurers: Arity Report 
Five Reasons Why the US Escaped a Hurricane Landfall So Far This Year 
Parkland Shooting Wasn’t Multiple Incidents With Multiple Deductibles, Court Says 
What Progressive and GEICO Q3 Results Reveal About Auto Insurance Profit, Growth 
