What's new?
Miller's Railcar Lessors Liability offering
Coverage for entities leasing railcars for the transportation of goods and commodities
Miller’s Railcar Liability offering provides clients with dedicated capacity for lessors who are contractually required to purchase liability coverage for the transportation of commodities via leased railcars.
This product can cover a range of commodities being transported – from crude oil & fuels, through to timber and agricultural produce. This is being targeted because of the hazardous exposures of transporting commodities via rail - and the contractual limits required.
Typical Insureds include:
Commodity and fuel traders
Oil and gas companies
Transportation and logistic companies
Terminal operators / owners
Downstream, refining and processing organisations
Product highlights
Placed 100% with A+ Lloyd's of London Security
Fast turnaround times - this is a single underwriter product with no follow or agreement parties required
The product offers not only competitive pricing but bespoke wordings for Insured’s specific operations
This provides broad form Railroad Liability coverage featuring the following key benefits as standard:
- Up to USD25m in policy limits
- Low deductibles and retention options
- Coverage across North America, including Canada, USA and Mexico
- Right and Duty to Defend language
- Broad form - bodily injury definitions
- Pollution coverage – on a sudden and accidental basis, with time element reporting
- Coverage for resultant property damage & bodily injury arising from professional services
Minimum premium of USD50,000 per placement
Basic Information Requirements
- Details of product to transported
- Number of leased units
- Estimated number of journeys
- Information on the transportation route and class of railroad used
- Details of loading and unloading operations
Why Miller
Miller is one of the largest providers of premium to the London marine, energy and transportation market. We have leveraged long-standing market relationships to design bespoke programmes and facilitate access to specialised markets to place risks on behalf of our clients.
Complementary Covers: Commercial general including contractual liabilities Umbrella / excess liability Marine liabilities Professional liabilities Warehouse legal liabilities Terminal operator liabilities Freight brokers / forwarders liability Cargo
