Rail Transport Proprietary Insurance

Use of rail vehicles and attendant property for maintaining such type of activity is surely used by system of insurance. Such type of insurance has specific features taken into account. On general basis it has 3 types of insurance similar to insurance of other vehicles: property insurance of owners of the railroad, life and health of passengers and other people who are taking part in process of carriage and operation, and also responsibility of the owner and service personnel.

The insured property objects: are carriages, gondola cars, carriage stocks for special purpose, platform coverings, accumulating tanks, auxiliary structures such as refrigerator-carriages and isothermal carriage blocks and railway serving facilities which don’t move independently. Railway vehicles of traction function are subjected to insurance (rail motor cars, electric locomotives, etc.).

Insurance risks, to which the above-stated technical facilities are subjected, have their specificity:

- crashes;

- explosions;

- fires;

- different catastrophic crashes;

- leave the track;

- actions of the third parties (thefts, hooliganism, vandalism, etc.).

Railway transport insurance has a number of advantages over other types of insurance. First, is accepted without preliminary examination. Secondly, has possibility of reinsurance in the European companies that allows accepting objects with cost more than one billion for insurance.

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