Showing posts with label Rail travel insurance. Show all posts
Showing posts with label Rail travel insurance. Show all posts

Tuesday, January 23, 2018

Indian Railways: 2 New ‘World Class’ Trains To Cut Travel Time By 20%

CHENNAI: By June this year, the railways will roll out a ‘first of its kind’ semi-high speed, self-propelled train set which will cut down the travel time by at least 20% in comparison to any train drawn by a loco due to faster acceleration and deceleration.
The Chennai-based Railways’ Integral Coach Factory (ICF) has designed the train sets and will manufacture the first with 16 fully air-conditioned coaches by June 2018.
Touted as Train 18, it will have ‘world-class’ passenger amenities such as on-board Wi-fi and infotainment, GPSbased passenger information system and plush interiors with diffused LED lighting.
The new train with aerodynamic nose for reduced drag and for improved aesthetics is likely to replace elite Shatabdi Trains currently used for superfast inter-city travel.
Another set of train, named Train 20, is likely to be launched in 2020. These will also be equipped with world class facilities to replace another elite train, Rajdhani Express, used in overnight travel. Both Train 18 and Train 20, ‘Make in India’ projects by ICF, will be manufactured for half the cost of imported train sets. The only difference will be that Train 20 will have an aluminium body while Train 18 will have stainless steel body.
The train sets (like EMUs), which will replace locomotive-hauled trains, will have continuous window glasses for a contemporary modern look; ‘automatic plug-type’ sliding doors and sliding footsteps which will open and close automatically at the stations and zero discharge vacuum-based bio-toilets.
ICF general manager S Mani said, “Train 18 can travel at speeds of up to 160 kmph. It will have worldclass facilities for passengers. First set of train will be ready by June 2018.”
A study shows the railways will be able to cut travel time by three hours and thirtyfive minutes on the 1,440-km Delhi-Howrah route. The Rajdhani and Shatabdi Express can go up to 150 kmph, but the average speed continues to be 90 kmph as there are several speed restrictions. Given that applying brakes and accelerating takes longer using locomotives, the ‘train sets’ will cut down on time. The reduction in journey time was calculated at a maximum permissible speed of 130 kmph and could come down further if the permissible limit is raised to 160 kmph.

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Monday, October 19, 2015

Amtrak Announces New Natural Disaster Insurance

Amtrak Announces New Natural Disaster Insurance

Amtrak officials announced that the rail company had obtained $275 million of natural disaster insurance protection.
The new insurance will cover any damage caused by a natural disaster—such as storm surge, wind damage or earthquakes—to the Amtrak-owned infrastructure in the critical Northeast Corridor.
Amtrak received the insurance protection from PennUnion Re Ltd. through a Bermuda-based insurance company that it owns called Passenger Rail Insurance Liability. The two sides have officially agreed to a contract that will provide the catastrophe protection.
Amtrak Executive Vice President Gerald Sokol, Jr. released a statement about the new insurance, saying, “This is the first time Amtrak has used the capital markets to broaden our base of insurance coverage. The catastrophe bond market provides us with a means to diversify our sources of insurance in a cost effective manner.”
The natural disaster insurance will help provide “a capital markets source of insurance risk capital” that can be used as protection by Amtrak in the case of a catastrophe like the east coast faced during Hurricane Sandy in 2012.
During Hurricane Sandy, a storm surge force sea water into the Hudson River tunnel and the East River tunnel, causing more than $1 billion in damage. The new insurance would protect Amtrak in the event of another natural disaster and give the company the money needed to get its trains up and running as quickly as possible.