ALLIANZ AND QBE CONFIRMED AS INSURERS FOR SPANISH TRAIN CRASH

The Spanish arm of Allianz SE and the European division of Australia-based insurer QBE have been confirmed as the main insurers of the fatal train crash in north-western Spain last week. Allianz Seguros covers a compulsory personal accident policy for Spain's state-owned rail network Renfe, while QBE covers injury to third parties and rail infrastructure, if the train operator is found to bear responsibility, reported Reuters. The insurers later confirmed their liability. QBE has previously said that its exposure to any single public event is limited to $50m, with the rest being covered by reinsurance. The driver of the train is suspected of being involved in 79 counts of reckless homicide, but has not formally been charged.