Insurers turning to mapping data in rail, flood disasters

Insurers turning to mapping data in rail, flood disasters

Insurers turning to mapping data in rail, flood disasters

A statement issued by the agency explained the new decision is based on new information provided by the company. It stressed the extension is for a short time period.

“Based on the new evidence provided today, the agency is satisfied that this provides adequate third party liability insurance coverage for operation from August 20 to October 1, 2013,” the statement said.

MM&A is implicated in the devastating July 6 derailment that killed 47 people and wiped out part of downtown Lac-Megantic.

The cash-strapped U.S. company still faces a number of financial hurdles and its future remains in doubt.

A criminal investigation is underway, several lawsuits have been filed, and the provincial government has demanded money from MMA for the massive cleanup efforts.

MMA has been granted creditor protection in Canada and bankruptcy protection in the United States.
 


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