Hazardous chemical operations should carry insurance for a worst-case scenario, an industry consultant has testified before Congress in outlining a host of critical issues exposed by the West Fertilizer plant explosion in April.
Amongst the problems is that while West Fertilizer had $1 million in liability insurance, the cost of the disaster could reach as high as $230 million, according to Rafael Moure-Eraso, chairman of the U.S. Chemical Safety Board.
This is "an unimaginable blow to a town of just 2800 residents—more than $80,000 for each man, woman, and child living in West, [Texas]," he said.
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