GENERALI LEAD UNDERWRITER IN ITALY RAIL CRASH

Italian insurer Generali is reported to be the lead underwriter of the programme insuring the freight train that exploded on Monday night in Viareggio, a Tuscan seaside town in north-west Italy. The crash of the train, which was carrying liquid-petroleum gas (LPG), resulted in at least 14 deaths and another 50 injured. The liability for the damage and loss of life could become a matter of dispute, with possible defects in the track or in the containers being matters of concern, as well as the speed of the train when it derailed. The rail track passed very close to residential buildings, many of which were virtually destroyed after the LPG leaked and spread before exploding, creating a sheet of flame. Bermuda-domiciled Catlin is reported to hold the first excess layer.