1. The railroad is the named insured on the policy. Contractors purchase it for the benefit of a railroad.
2. It is primary. It is the first layer of coverage and can be augmented by a CGL policy, or an umbrella or excess policy.
3. It is narrow in coverage. It applies only to a specific site where work is to be performed.
4. It is narrow in scope. It applies only to work in progress, and not to incidents that occur after the work is completed.
5. It is narrow in time. It only covers losses that arise during a certain time period.
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