Update above: CSX insurance polices were changed from $30 and $50 million to $25 and $50 Million.
CSX does not release names of Companies they do business with.
This info can be found on CSX filings with SEC, and the latest report was filing Q1 of 2016.
Go to SEC filings, 10Q dated 4-13-16 and read page 12, Note 5 on Insurance.
The " breakdown" above was from my following and watching "years" of reports from accidents,
and results on earnings..... and hopefully help new, or misinformed, and fearful, investors to CSX
about derailments.....it's that simple and that's all folks......see ya!
I never thought you were anti-gun.... The gun deaths are not just Chicago, look at Detroit
and Memphis, etc. My point is honest people need to have protection !
Ferguson, and politically correct, pulling back police action, has opened up the old west
Todays paper says: 64 shot in Chicago over weekend. That must be lie, they have a no gun law in Chicago.
For all the people hurt and killed by guns.... I have one simple question ? Do you wish a law abiding gun
carry permit holder, was with your loved one, and assisted or possibly stopped this from happening ?
Want to become a target for robbery, or even isis..... Put a sign on your door.... GUN FREE ZONE
Don't be so stupid. Prior to April 25, 2016 what did you post under.... stinkfish ?
I'm smart enough to know about the policy, and how to protect myself... thanks
I should have added following: Lawsuit protection. My auto insurance will cover up to $200K for
bodily injury. What if they take a lawsuit against me? I have additional policy to protect my
wealth, which cost $145.00 per year, and insurance lawyers will represent me in court, and the
policy will pay up to $2 Million in additional cost. Do rails have a policy like this ? I don't know
Not wrong... insurance if these Canadian rail were the same.... pays for damages up to unknown amount,
or cap, but does not include lawsuits, due to deaths from reckless handling for improperly securing train.
Big difference between damages, and lawsuits. The $255 million is to pay deductible for damages not
for lawsuits.... totally different situation.
Just like auto insurance.... CSX also has insurance. CSX maintains a RESEVE FUND (currently $255 Million}
to pay from this fund the cost for any derailment, significantly below $30 Million in cash. If close to or above
$30 Million they pay deductible and insurance pays the remainder. CSX also has an additional insurance,
$50 Million policy, to pay for any massive loss.... example when Katrina hit CSX had over 100 miles of track
washed out, and CSX paid deductible, and insurance paid over $500 million cost to replace track and bridges.
The best I understand, the $30 Mil policy pays up to $50 Mil and the $50 mil pays up to the moon.
Investors should not panic about cost... or any stock price drop... due to derailments, the most
cost would be around $.02 per share for that quarter, and reimbursement by insurance company will
replenish the reserve fund.
Hopefully, this is 100% correct, and gives a better understanding how this process works. glta
j.molter... Very true. Sometimes the Control Tower was notified that a test was
going to happen... but if we informed train crew, we would be fired on the spot.
We were told to avoid calling out signal maintainer and roadway.. unnecessarily.
I tried to caution crew when given permission to move through track circuit...
a HINT.... that they were the "first train" to move through this location. I never
had a crew fail the test in 40 years. Maybe you recall hearing my instructions ?
If not a test... permission thru track circuit... if test Permission FIRST TRAIN.
I always looked out for my crews as best as possible.
Poor CP......No ships, no canal, soon no Bakken oil, just end up with a pipeline, moving oil from Bakken oil fields to Illinois for NSC and CSX for east coast refineries. OH BOO HOO
stinkfish needs to stick to the OR issue.... which will be corrected when US drops corporate rate to 20%.
idiot fish now no HH....... what goes next.. US consumers become tired of Canada moving US business
and demand freight move on US rails only ???? Maybe I should start the complaint with US Senators.