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Canada's rail operators should pay into collective insurance policy: Report

Posted On: Nov. 13, 2013 12:00 AM CST

Canada's rail operators and their clients should pay into a collective insurance policy to protect taxpayers from bearing the cost of industrial accident cleanups, Mary-Jane Bennett, a research fellow at the Frontier Centre for Public Policy, said in a report.

Ms. Bennett said "when you consider that 70% of hazardous goods are transported by rail," there is a chance for a "costly accident," The Montreal Gazette reported.

Rail operators, other than Canadian Pacific Railway Ltd. and Canadian National Railway Co., are most likely to go bankrupt if a large-scale derailment occurs.

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