Canada's Second-Largest Rail Operator Advocates Mandatory Shipper Insurance

Governments should require companies shipping crude oil by rail to carry enough liability insurance to make up for shortfalls in coverage carried by railways, the president of Canada's second-largest rail operator said on Thursday.

By Randall Palmer, Reuters | Updated on April 03, 2014

OTTAWA (Reuters) – Governments should require companies shipping crude oil by rail to carry enough liability insurance to make up for shortfalls in coverage carried by railways, the president of Canada’s second-largest rail operator said on Thursday.

Currently, there are no requirements in Canada for shippers of oil and other dangerous cargo to carry liability insurance against accidents, Keith Creel, president and chief operating officer of Canadian Pacific Railway Ltd , said after testifying to the House of Commons’ transport committee.

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