Tag: Department of Transportation

Rail insurance coverage may not be sufficient for oil train crashes

Julie Campbell
rail insurance news industry train transportation

At the moment, the maximum available coverage per carrier, per incident is $1 billion. According to a recent Department of Transportation (D.O.T.) analysis of its own rules with regards to rail insurance, the majority of freight railroad policies would not even start to cover the complete cost of the damage that could be caused by a moderate accident involving an oil train, let alone a massive disaster. The database of the D.O.T. has flaws with regards to incidents involving oil trains. The reason that the database of the D.O.T. is…

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Insurance industry sees a shift in oil transportation regulations in the US

Logan B.
rail insurance news industry train transportation

Federal agency believes that current insurance policies are unable to account for the cost of major train crashes and derailments The U.S. Department of Transportation has released a statement noting that insurance policies covering railroads that transport oil may not be sufficient. The statement suggests that these policies are unable to account for the costs associated with crashes and derailments of oil trains. Last week, the federal agency proposed new safety rules that would require railroads to hold a higher level of insurance coverage, which may be good news for…

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Department of Transportation looks to ban use of cell phones while driving

Nordstrom
Distracted Driving Statistics

Secretary LaHood campaigns for national ban on mobile device use while driving The U.S. Department of Transportation has called for a nationwide ban on the use of mobile devices whilst driving. Distracted driving has been cited as a major contributor to auto accidents throughout the country. These accidents have long been a thorn in the side of the auto insurance industry, but insurers have been divided on whether mobile devices played a significant role in distracted driving. A national ban on the use of mobile technology while driving could have…

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Autonomous Toyota Prius causes minor crash in California, insurers unsure how to react

H. Cutner

Google has been developing an autonomous vehicle that can, allegedly, travel without human interaction. The big-name technology company has kept quiet about the vehicle, releasing only choice bits of information throughout the years. What little is known about the vehicle is that it is a Toyota Prius and has apparently traveled more than hundreds of thousands of miles, according to Google representatives. Google has been so bold as to say that the vehicle could never be in a crash, a notion that was proven false last month. Google’s autonomous car…

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