Risk
Rail Risk Report - Liability risk management in the global rail industry

Rail Risk – Stay on Track


Loading

Liability risk management in the global rail industry | A feature report by Aon Global Risk Consulting

2013 was characterised by several major railway accidents causing injury and loss of life; resulting in severe financial exposures and even bankruptcy for the organisations found liable.

Now, an analysis of Europe-wide accident data by Aon Global Risk Consulting has found that those companies implementing active risk management programmes focusing on incident causes (precursors) can have a positive impact on their ability to reduce losses in the long term.

Key findings from the report entitled Rail Risk – Stay on Track: Liability risk management in the global rail industry, include:

  • Measuring accident precursors is #1 risk management method
  • Up to 42% of accidents are directly related to precursors
  • Railway operators often have not identified the potential impact of large (liability) exposures resulting from accidents

With rail networks supporting ever increasing amounts of passenger and freight traffic, the stresses on equipment, infrastructure and personnel are rising exponentially. This report details some of the major problems affecting the industry and suggests practical solutions to move forward. The potential for catastrophic loss is clear however the financial impact is not.

The 16 page report is available to download and includes a comprehensive review of the latest tools and techniques that rail industry companies are using to support their risk management process.

Download the Rail Risk - Stay on Track Report