XPost: can.politics, ab.politics, ont.politics   
   From: ConsRCons@govt.cda   
      
   'In a quarterly report in the first week of August, MM&A’s insurance   
   company revealed that the average short-line railroad in North America   
   holds $32-million in insurance.'   
      
   But the Harper government allowed them to insure for only 'up to $25   
   million'.  And the damage is estimated to be $200 million.  And yeah,   
   MM&A is declaring bankruptcy, leaving Quebecers and other Canadians to   
   cover the cost of cleanup and rebuilding.   
      
   Good job, Harper & Cons.  You really know how to look out for Canadians.   
   _______________________________________   
      
   The Globe and Mail - August 11, 2013   
      
      
   Canadian Transportation Agency approved MM&A's coverage   
      
      
   Federal Canadian Transportation Agency said rail company's insurance   
   policies were adequate   
      
   The railway whose train crashed in Lac-Mégantic last month had its   
   insurance coverage approved by a federal agency earlier this year.   
      
   Montreal, Maine & Atlantic filed for creditor protection in Canada and   
   the United States on Wednesday, saying it is unable to deal with growing   
   environmental cleanup bills and other claims related to the disastrous   
   derailment.   
      
   Court documents filed by the company show that its insurance policy   
   covers it for third-party liabilities of up to $25-million.   
      
   Faced with a cleanup bill the company estimates will exceed   
   $200-million, as well as additional lawsuits from those affected by the   
   crash, court documents make it clear that the insurance policy will   
   scarcely begin to cover the fallout from the derailment.   
      
   In a quarterly report in the first week of August, MM&A's insurance   
   company revealed that the average short-line railroad in North America   
   holds $32-million in insurance.   
      
   Insurer XL Group has so far declined to pay for cleanup costs because it   
   says it wants to prioritize victims' claims, leaving the province of   
   Quebec to foot the bill.   
      
   An estimated 47 people were killed when an MM&A oil train jumped the   
   tracks in the centre of Lac-Mégantic on July 6. One-third of the village   
   was evacuated as downtown smouldered for several days.   
      
   MM&A's insurance coverage was approved by the federal Canadian   
   Transportation Agency when MM&A first began to operate in Canada in   
   2002. The company has provided the CTA with certificates of insurance   
   every following year, including in 2013.   
      
   The CTA is an independent, quasi-judicial tribunal and economic   
   regulator for the transportation industry that is governed by federal   
   legislation. It determines railway costs, approves railway construction   
   and handles rail-related complaints.   
      
   The agency issued a certificate of fitness for MM&A in 2002 that allowed   
   the company to begin operations in Canada. The certificate indicated   
   that the agency was satisfied the company had adequate third-party   
   liability insurance for its operations, a spokeswoman said.   
      
   Jacqueline Bannister said this week that the CTA was aware of MM&A's   
   decision to file for creditor protection.  She said the agency is   
   currently looking at the adequacy of MM&A's insurance coverage for its   
   continuing operations.   
      
   MM&A indicated in its creditor protection filing that it wants to   
   continue operations while the courts determine what its creditors will   
   receive.   
      
   "The Agency may suspend or cancel [MM&A's] certificate of fitness if it   
   determines that the railway's insurance coverage is no longer adequate,"   
   Ms. Bannister wrote in an e-mail.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)