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9 Oct, 2016

Railroad Coverage For More Flood Damage – Part two

2018-05-24T21:00:54-05:00October 9th, 2016|Flood, Midwest Insurance Law Guide, Property and casualty, Railroad endorsement|

Last time we visited on October 8, we were gripped by the fascinating 2nd Circuit holding in National Railroad Passenger Corp. (AMTRAK) v. Aspen Specialty Ins. Co., et al, No. 15-2358-cv, ___Fed. Appx.___ (2nd Circuit September 7, 2016).   Let's keep the story going.  What happened next? As we left our Amtrak heroes and heroines, they were trying desperately to bypass the $125 million flood sub-limit sinkholes which were found on a paper [...]

8 Oct, 2016

Railroad Coverage For More Flood Damage

2018-05-24T21:02:08-05:00October 8th, 2016|Flood, Midwest Insurance Law Guide, Property and casualty, Railroad endorsement|

After Super Storm Sandy flooded Amtrak’s tunnels under the East River, the passenger railroad sought to obtain coverage under a number of all risk policies in effect at the time.  It wasn’t just the obvious water damage to Amtrak’s property.  Amtrak also suffered from chloride (salt) erosion of its cement and steel after the waters were siphoned off.  This corrosion would necessitate replacing track infrastructure at great cost – even [...]

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