Article 9 Public Liability Insurance

In this article–

• “insurer” means any insurer or insurers authorised under the Insurance Companies Act 1982^f1 to carry on in the United Kingdom insurance business of a relevant class or who has corresponding permission under the law of another member state of the European Economic Community;

• “policy” means a public liability policy with an insurer providing maximum cover in respect of any one accident on or occasioned by the operation of the railway of not less than £2,000,000.

The Company shall not work the railway unless there is in force a policy.

The adequacy of the cover provided by a policy maintained in accordance with this article shall be regularly reviewed and increased by the Company.

The Company shall comply with any valid direction given by the Secretary of State requiring insurance in terms of section 46 of the Transport and Works Act 1992^f2.