Railroad Risk Management

//Railroad Risk Management

The Importance of Railroad Risk Management

Preventing railroad accidents before they occur is critical. The main reason behind this is cost. Accidents involving a railroad are expensive for both the insurance company providing insurance and any company with a railway insurance coverage policy. How can some of these accidents be prevented? The answer is simple – railroad risk management. Ron Budra, third party adjuster and founder and president of RailroadClaims.com, has over four decades of experience in the railroad industry and is highly experienced at examining railway accident reports to determine if the accident was preventable.

How to Prevent a Railway Accident Before it Occurs

Railway accidents usually add up to a staggering amount after damages to the cars, engine and railway are combined, as well as the loss-of-use bills, bodily injury claims and death claims. One of the best ways to prevent these high costs is railroad risk management.

A thorough audit by an experienced third party adjuster, such as Ron Budra, typically brings to light numerous risks that can be fixed quickly by training railway personnel and making necessary repairs to cars, engines and railroad equipment. When the cost of periodic and reoccurring railroad risk management audits are compared to the cost of a railway accident, the railroad and insurance company almost always determine the audits are a tiny investment.

What Railroad Risk Management can Help Determine

A detailed railroad risk management audit can find numerous preventable issues. Some common examples include:

  • Railway employees not properly trained on equipment and/or not well-versed on government and company rules and regulations
  • Unsafe company procedures developed by the logistics company
  • Property damage caused by defective cars and engines, as well as improper loading procedures

Once Ron Budra with RailroadClaims.com completes his railroad risk management services, he will determine if more training needs to be done, repairs need to be completed, etc.

For more resources on Ron Budra and his railroad risk management services, please contact him at (302) 743-4768 for a free consultation.

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