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San Francisco Municipal Transportation To Procure Catastrophe Insurance

To help the Municipal Transportation pay for pricey lawsuits

The San Francisco Municipal Transportation Agency (MTA) has decided to purchase a $2.4 million insurance policy, to help the Municipal Transportation pay for pricey lawsuits – reported in KCBS.

The decision follows a $21 million settlement against the transit system, after a Muni truck jumped a curb and killed a four-year-old child in 2004.

The Municipal Transportation Board voted to go for an insurance policy. Judson True, spokesman of MTA stated that it would cover claims over $5 million, and cost $2.4 million a year.

The Dominguez settlement is the only one over $5 million in at least a decade, so, whether the benefit of insurance compensates the risk remains to be seen.