The Canadian government will create a special fund to pay for damages and cleanup in rail disasters, supported by levies on shipping crude oil, a person with direct knowledge of the plan said.
Last week Transport Minister Lisa Raitt discussed the proposal in detail, including specifics on the fees.
The plan includes the creation of a compensation fund to be supported by “shippers” of crude oil, and used in the event of a disaster, the person said, speaking on condition they not be identified because the proposal has not been made public.
The fund is part of legislation Raitt is expected to introduce today to boost rail safety.
Was this article valuable?
Here are more articles you may enjoy.
Cost of a Data Breach Reaches Record $5 Million on Average 
Google Loses Bid to Block UK Class Action Over Search Ads 
Citigroup Settles $70 Million Trade-Loss Suit With Loomis Sayles 
Product-Defect Presumption Lives On: Florida Appeals Court Upholds $103M vs. Ford 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.