Canada Senate Urges Minimum Insurance Levels for Railways

Canadian senate is planning to force railways to take out adequate insurance to cover common incidences. This was recorded in a report issued by Canadian senate after the train disaster in Quebec. It killed 47 people and several injured. The Montreal, Maine Atlantic Railways (MMA) did not have enough insurance to cover all clean-up costs.

This was just one of the 13 recommendations that the senate came up with. After a thorough evaluation, the senate discovered that the insurance cover was far too low. The railway industry does not have restrictions in terms of minimum or maximum insurance and the senate wants to change this.

 

Related article: http://ca.reuters.com/article/topNews/idCABRE97L0QR20130822

By CWAN Global Press

The Canadian Wealth Advisors Network (CWAN) was established in March of 2009 as an online forum where investment professionals share ideas and best practices that allow them to meet the growing needs of their clients. As the CWAN community grew and evolved, it was expanded to serve both advisors and investors. Garnet O. Powell, MBA, CFA is the Editor-in-Chief of the Canadian Wealth Advisors Network (CWAN) magazine. He is an investment management professional with more than 20 years of experience. linkedin.com/in/garnetpowell

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