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Federal Express Corp., whose tractor-trailer reportedly crossed a grassy center divide on Thursday, slamming into a chartered bus carrying high school students and killing 10 people, has a $5 million combined single limit policy with Protective Insurance Co., a unit of Carmel, Ind.-based Baldwin & Lyons Inc.
The accident, which also left dozens injured, occurred on Interstate 5 in Orland, Calif., about 100 miles north of Sacramento. The students in the bus were on their way to visit Humboldt State University in Arcata, Calif., according to news reports.
According to Memphis, Tenn.-based FedEx's website, the company has a $5 million combined single limit with Protective Insurance for business automobile liability insurance for all owned and nonowned vehicles. A Baldwin & Lyons spokeswoman confirmed the details. The policy period is Oct. 1, 2013, through Oct. 1, 2014.
FedEx said in a statement, “All of us at FedEx are deeply saddened by the tragic highway accident in California. Our hearts go out to all of those involved and their families. We are cooperating fully with the officials investigating the accident.” A spokeswoman would provide no additional information.
The chartered bus that was hit in the accident was operated by San Luis Obispo, Calif.-based Silverado Stages Inc. The company has $5 million primary coverage with Cary, N.C.-based Lancer Insurance Co., according to information filed with the U.S. Department of Transportation.
Jim Saunders, Lancer regional claims manager, said, “Everybody at Silverado and Lancer is deeply saddened by the tragedy that occurred, and our thoughts are with the families involved. Silverado is fully cooperating with the authorities' investigation of this accident, and beyond that we don't have additional information.”