feature
Answer to September's Quiz
property in effect leaving you, the believe this is a simple solution to an
contractor, directly in the firing line. otherwise complex industry-wide issue.
Rolling stock and infrastructure are both In the majority of trades/service
expensive commodities, however it is sectors the company/individual is
often the legal costs associated with required to provide evidence they are
fighting a claim which has the potential suitably insured before being allowed
to bankrupt defendants i.e. the on site. Given the cost of rolling stock
contractor. and associated infrastructure assets in
The scheme offers peace of mind by an industry that primarily serves the
offering £5 million in defence costs public, we find it unusual no such
and appointing a QBE legal team to act requirements are currently in place for
on your behalf. In an increasingly contractors to carry their own Public
litigious environment it is our opinion Liability. We also find it remarkable
that this is essential cover. The scheme considering the premiums associated
also offers a personal accident bolt-on with contingent liabilities for rail
should you injure yourself whilst at workers, that a service provider/
work. The policy will pay out during agency can offer generic group
the time you are unable to work insurance to effectively cover all
(subject to the terms and conditions of disciplines of its clients in the rail
the policy). sector, effectively leaving the contractor
uninsured on policy exclusions.
For the Agency The scheme has been designed with
For the agency, the scheme offers a 6 categories to cover all tasks carried
simple solution to their contractual out in this diverse industry with the
requirements by providing suitably assumption that all workers have the Question: Answer:
insured staff to the client/end user. The capacity to work in a safety critical What vehicle is this? A HST minus front cab.
scheme also allows the agency to place manner. The days of a 'head in the
staff in high risk areas which their sand approach are gone,' which is why Our winner is Steve Stowell of Babcock Rail.
current policy exclusions may prevent, this scheme has been designed in A cheque for £50 will be on its way to you soon. Congratulations.
whilst also allowing the agency to conjunction with rail industry Thanks to all who took part.
reduce their own overheads associated contractors and businesses with a real
with contingent employers liability. We focus on industry specific needs. The quiz will return next month.
As a railway contractor you have
a legal and contractual obligation
to hold valid insurance cover.
ARE YOU COVERED?
Bond Insurance Services Ltd offer the only insurance designed
by and for rail industry contractors. At nearly a third of the price of
competitors, and with the backing of one of the largest rail insurers
in the market, it’s peace of mind that you can’t afford to do without.
For information, instant quotations and
policy purchase please visit us at
www.bond-insurance.co.uk
Bond Insurance
Services
Ltd
Agency contact: Bond Insurance Services Ltd. Elaine Southwell ph. 01707 291 200/232
Railway Scheme
Bond Insurance Services Ltd is authorized and regulated by the Financial Services Authority, FSA reg no. 453372
october 2008 | the rail engineer | 15
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