Huge rail insurance for oil shipment coverage now offered by AIG

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The insurer now has a product to cover train accidents for up to $1 billion to help meet the growing demand. Yet another train carrying oil has now derailed in Canada, this time near Wadena, Saskatchewan, last week, when it also caught fire, causing an ever rising number of questions to appear with regards to the types of rail insurance that will be necessary to protect companies and railways. In response to this need for coverage, AIG is now offering a $1 billion liability product for railways. With the rapidly…

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