|LEXINGTON INTRODUCES RAILROAD LIABILITY COVERAGE FOR SHORT LINE RAILROADS|
BOSTON, April 8, 1999 - Lexington Insurance Company has introduced LexTRAXSM, a new railroad liability policy for short line railroads. LexTRAX is an "occurrence" policy form which has a "pay on behalf of" insuring agreement. Limits of liability are available of up to $25 million. Defense costs are outside limits of liability.
LexTRAX provides railroad liability coverage, including pollution liability; evacuation expense; general liability; bill of lading liability, which covers the insured for cargo claims for which they are held responsible; and foreign rolling stock coverage, which covers the insured's liability for damage to non-owned rolling stock in the care, custody, and control of the insured. Additionally, LexTRAX provides coverage for claims filed under the Federal Employers Liability Act (FELA), which is the basic law covering railroad employees and their work-connected injuries.
LexTRAX is designed for short line railroad operations, holding companies that own several short line railroads, and excursion lines such as dinner trains and "fall colors" trains run by short line operations.
For more information about LexTRAX, call John Kurowski at 617/330-8486.
Lexington Insurance Company, based in Boston, is the leading U.S.-based excess and surplus lines carrier. Lexington Insurance Company is rated A++ (Superior) Class XI, by A.M. Best Company and AAA by Standard and Poor's.* The above described coverage may not be available in all states, and the above description thereof is neither a complete description nor a complete list of all terms, conditions and exclusions. Note that certain terms used in the above are defined in the policy. Please see the policy for a complete description of its scope and limitations of coverage. Issuance of coverage is subject to underwriting.