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AUSTRIA: LIABILITY IN ACCIDENTS

Article Abstract:

According to Austria's railway and motor vehicle liability law (EKHG), the operator of the means of transport is liable to pay compensations of up to Sch 4mn or an annual pension of Sch 240,000 per person to those who were injured or died as a result of a traffic accident in cases where the operator can prove that he was not at fault. In other cases, those injured or their relatives may claim higher damages. At least 159 people lost their lives in a fire of a ground funicular in a tunnel in Kaprun on 11 November 2000. Generali is the responsible insurance company. While traffic-related accident are insurable, no insurance cover is available for natural catastrophes such as the avalance in Galtur in February 1999 in which 31 people died. The Austrian Catastrophe Fund covered Sch 129mn of the damage of Sch 166mn, while more than Sch 20mn was raised with donations. Insurance companies (Raiffeisen, Tiland) made voluntary payments. About Sch 3bn of the about Sch 4bn that is paid annually into the Catastrophe Fund is spent on preventive measures such as flood and avalance barriers.

Use of services, Trucking, General Freight Trucking, Insurance, Insurance Carriers and Related Activities, Trucking & Courier Services, Ex. Air, INSURANCE CARRIERS, Generali

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AUSTRIA: PRIVATE RAIL OPERATOR PLANNING EXPANSION

Article Abstract:

Montafonerbahn AG is to apply for a concession to operate rail services throughout Austria. With such a concession, the company will be able to bid to operate on the public rail network (of Osterreichische Bundesbahnen). The company wants to extend its services also to Buchs, Switzerland and Lindau, Germany. The private operator has invested Sch 60mn in two new motor rail car sets and is spending Sch 60mn on refurbishing Schruns railway station.

Government regulation (cont)

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