Kenya Railways🚋 has instructed China Road and Bridge Corporation (CRBC) to immediately procure 💸liability insurance for SGR flagship project.
The SGR passenger train Madaraka Express has been operating without insurance cover since its launch😱
Without an insurance cover, Kenya Railways would be hard pressed to compensate passengers and cargo clients in case of an accident😧
A number of insurance companies submitted their quotations📝 and held meetings with senior Ministry of Transport, Kenya Railways and CRBC officials to discuss packages on offer for the 💰Sh327 billion project.
Some of the items to be insured are equipment worth Sh8.2 billion, which include 31 passenger wagons, 60 freight wagons, 15 passenger and cargo locomotives (part of which is one used engine worth Sh2.6 billion), 182 General Rail Switches and 6⃣ passenger service facilities.
From the meeting, it was also agreed that pending the finalisation of particularised details in the policies, the concessionaire would instruct AIG Kenya to issue cover note -- a temporary document sent to the insured whilst the underwriter completes the paperwork😌
To read full article - https://goo.gl/wj39wi