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Rolling Stock ROLLING STOCK IMIA Working Group Paper 102(17) IMIA Annual Conference 2017 - Munich Sponsor: Guido Benz, Swiss Re Christoph [email protected] Helvetia Guntersweiler (Chair) Heiko Hammacher [email protected] Helvetia Eric Bentz [email protected] Mapfre Ho Kun Hong [email protected] SCOR Ed Chan [email protected] RSA insurance Group Brendan Reed [email protected] Codan Thomas Gebert [email protected] AXA Denis Kocan [email protected] Swiss Re Darren Smart [email protected] Liberty Bruno Ternisien [email protected] Naudet Colin Hamling [email protected] High Speed 2, UK Richard Day [email protected] Arup Raik Wittowski [email protected] - IMIA Workgroup 102(17) – Rolling Stock 1 Executive Summary ........................................................................................................ 5 2 Introduction ..................................................................................................................... 6 2.1 Goal ........................................................................................................................ 6 2.2 Scope of paper ........................................................................................................ 6 2.3 Field of observations ............................................................................................... 6 3 Definition ......................................................................................................................... 7 3.1 In scope / out of scope ............................................................................................ 7 3.1.1 History .............................................................................................................. 7 3.1.2 Today ............................................................................................................... 7 3.1.3 Categorization .................................................................................................. 8 4 Values of Rolling Stocks ................................................................................................10 4.1 Costs ......................................................................................................................10 4.2 Annual Costs of the rail industry .............................................................................10 5 Rolling Stock in Engineering Insurance ..........................................................................11 5.1 Key Statistics..........................................................................................................11 5.1.1 Rolling Stock Industry......................................................................................11 5.1.2 Rail Transport Market ......................................................................................11 5.2 Market Overview about Suppliers / Manufacturers .................................................12 5.2.1 The Top-10 Suppliers / Manufacturers ............................................................13 5.3 Market overview rail transport ................................................................................14 5.3.1 The Top10 Rail Operators ...............................................................................14 5.4 Technology and its development ............................................................................15 5.4.1 Present Day ....................................................................................................15 5.4.2 Technological Developments ..........................................................................17 5.5 Maintenance of Rolling Stock .................................................................................18 5.5.1 Maintenance in general ...................................................................................18 5.5.2 Maintenance of wheels ....................................................................................18 5.5.3 New maintenance tools and maintenance subcontracted to manufacturers ....20 5.6 Testing ...................................................................................................................20 5.6.1 Testing and commissioning stages..................................................................21 5.6.2 Testing and Commissioning of railway infrastructure (railway line) ..................22 5.6.3 Testing and Commissioning of new Rolling Stock ...........................................22 5.7 Security Equipment ................................................................................................23 5.7.1 Communication system between the railway and the Rolling Stock .................23 5.7.2 Brakes .............................................................................................................23 5.7.3 Coupling of cars and other connections between wagons ...............................24 5.7.4 Closing of the doors ........................................................................................26 5.8 Standardisation and Regulation of the market ........................................................26 __________________________________________________________________________ Page - 2 - IMIA Workgroup 102(17) – Rolling Stock 5.8.1 Standardisation ...............................................................................................26 5.8.2 Regulation .......................................................................................................27 6 Loss Examples ..............................................................................................................30 6.1 Data .......................................................................................................................30 6.2 Assembly, Testing & Storage .................................................................................31 6.2.1 2015 Eckwersheim Derailment – Testing/Speeding/Human Failure ................31 6.2.2 2001 Mersin, Turkey - Offsite Storage – NatCAT ............................................32 6.2.3 2012 Norway Derailment – Testing/Speeding .................................................33 6.3 Operational ............................................................................................................34 6.3.1 2016 Hoboken Train Crash - Human Failure ...................................................34 6.3.2 2016 Bad Aibling Train Crash - Human Failure ...............................................35 6.3.3 1998 Eschede Derailment – Fatigue Crack .....................................................36 6.3.4 2014 Tiefencastel Derailment - Landslide........................................................37 6.3.5 2013 Lac-Mégantic Rail Disaster – Poor Maintenance ....................................38 6.3.6 2002 Dresden – Flood .....................................................................................39 6.3.7 2008 Channel Tunnel – Fire ............................................................................40 6.3.8 2017 South Tyrolia Train Accident – Break Failure ..........................................41 6.4 Lessons learned from the losses ............................................................................42 7 Underwriting Considerations ..........................................................................................43 7.1 Project (Assembling & Testing) ..............................................................................43 7.1.1 Insurable Interests ...........................................................................................43 7.1.2 Insurance Solutions .........................................................................................43 7.1.3 Definitions of Rolling Stock in insurance policies .............................................46 7.2 Transfer Delivery and Storage ................................................................................47 7.2.1 Transfer or delivery .........................................................................................47 7.2.2 Storage ...........................................................................................................47 7.3 Operational ............................................................................................................48 7.3.1 Insured subject matter .....................................................................................48 7.3.2 Potential covers for Rolling Stock ....................................................................48 7.3.3 Insurable Interests ...........................................................................................48 7.3.4 Insurance Solutions .........................................................................................48 7.4 Third party liability ..................................................................................................49 7.4.1 Contractual issues (common areas of contract limitation) ................................50 7.4.2 Premises Risks ...............................................................................................50 7.4.3 Product Liability ...............................................................................................50 7.4.4 Testing and Commissioning ............................................................................51 7.4.5 Operational Liabilities ......................................................................................51 7.4.6 Professional (design) liabilities ........................................................................51
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