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The U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) is soliciting comments on the levels and structure of insurance for railroads that transport hazardous materials, the agency announced Monday.PHMSA is partnering with the Office of Research and Technology and the Volpe Center to study the financial risks involved with transporting hazardous materials by rail. The study will examine whether the market currently offers sufficient levels of insurance coverage against potential damages arising from an accident involving a train moving hazardous materials.The study is required under Section 7310 of the FAST Act legislation passed by Congress last year. When the study is completed, Transportation Secretary Anthony Foxx will submit a report on findings and recommendations to Congress, according to PHMSA.PHMSA is seeking public comment and input from industry and other stakeholders to inform the study, including available insurance and liability literature and data that may be relevant, agency officials said.Comments must be submitted by Sept. 9.
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