XL an insurer to railway in deadly Canada crash
Bermuda’s XL Group said it provided Insurance to the railway that had Canada’s worst rail disaster in 27 years.
XL Group Plc, which is Dublin-based, said it’s among the insurers of that railroad.
A spokesperson for XL in the Bermuda office told
The Royal Gazette: “XL does not publicly discuss details regarding our clients but can confirm that we are an insurer of the Montreal, Maine & Atlantic Railway.
“As such, we are on the scene working closely with the company and authorities and our thoughts and prayers are with the community of Lac-Mégantic, Quebec.”
A Maine & Atlantic Railway train carrying 72 car loads of crude oil exploded July 6 when it rolled from its parking spot and crashed in the Quebec town of Lac-Megantic, leaving as many as 60 people dead or missing and destroying local businesses.
Losses for insurers could include death benefits, business- interruption costs for commercial clients and expenses tied to replacing damaged property. Edward Burkhardt, chairman of the railroad, said in a media appearance that he spent the weekend coordinating with insurance companies.
“We have a lot of insurance,” Burkhardt said. “I’m not going to advise at this point what our limits are. I think our limits are going to be tested.”
Weirsky declined to comment on the specifics of its policy with Montreal Maine, a unit of closely held Rail World Inc.