The insurance coverages are offered jointly by National Interstate and U.S. Rail Insurance
National Interstate Insurance, a Ohio-based provider of alternative risk transfer insurance, has forayed into the railroad insurance market through a partnership with U.S. Rail Insurance, RRG.
The U.S. Rail Liability Program is an alternative risk management solution available for shortline, regional, and rail affiliated companies throughout the US.
The targeted companies include freight, scenic, rail museums, railroad associations, railroad service companies, railroad protective, and railroad equipment lessors and lessees. The program is administered by United Shortline Insurance Services and insurance coverages are offered jointly by National Interstate and U.S. Rail Insurance.
In addition to liability, other coverage lines are also available outside of the alternative risk structure through both the carriers. National Interstate and U.S. Rail developed this specialised insurance program. This risk management solution offers many long-term benefits not available through traditional insurance including stable annual insurance premiums, potential return of premium, and enhanced customer service and claims handling.
Dave Michelson, president of National Interstate Insurance, said: “National Interstate is extremely pleased to partner with U.S. Rail Insurance Company to bring this innovative insurance program to the railroad industry. National Interstate is also excited to add yet another market to our growing captive business which targets specific areas of the transportation industry.”