Germany's Allianz and Australian group QBE bear the bulk of the insurance liability from this week's fatal train crash in northwest Spain, according to sources at the companies.
While Allianz's Spanish subsidiary covers a compulsory personal accident policy for Spain's state-owned rail network Renfe, QBE covers injury to third parties and rail infrastructure, if the train operator is found to bear responsibility, the sources said.
The train driver was under police guard in hospital on Friday following the crash, which an official source with knowledge of the investigation said was caused by excessive speed.
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