Rail: Could this be Intact Insurance's biggest secret?

One of our best-kept secrets could be the success of our market-leading Rail product. Here, Steve Medhurst, Intact Insurance's Global Transportation Specialism Leader, takes us through the recent Rail successes, and what’s to come next.

Intact Insurance is one of the UK and Europe’s largest and leading Rail insurers. We insure many types of risks, including;

• the companies that run the trains,
• the rail infrastructure owners,
• manufacturers for both 1st party risks (for example rolling stock, stations, depots, tracks etc) and 3rd party risks (for example casualty and employment liability).

We have an involvement in 3 of the top 5 global rail companies, and participate in risks all around the world – estimated at over 100 customers in over 30 territories.

Successes to date

At the end of 2024, we were able to take a look at the rail book and it was clear to see that growth remains a key factor of our rail account. Growth in 2024 alone stood at 32%, and since 2018 the rail book has increased by 340%. These are stellar numbers in one of Intact Insurance's fastest growing and most profitable segments.

Our successes haven’t gone unnoticed in the market. We've made our way onto the shortlist for Rail achievements at the British Insurance Awards in 2023, 2024 and 2025 (as RSA Insurance).

How has this success been achieved?

As a broker or a customer of Intact Insurance, you might be wondering how these successes have been achieved, and also what it means for you.

Firstly, this is a heavy relationship-led sector. We’ve developed market-leading relationships directly with you, our brokers and customers. Testament to this is the feedback we have received from our largest UK rail customer – Network Rail. They have thanked us for our support and adaptability in relation to significant changes to the UK rail industry.

Secondly, we fully understand the industry, and even more importantly we can talk to our customers in their language. With such a specialist sector, it’s important that our customers have faith in their insurer. In some instances we will need to think of a rail solution rather than an insurance solution. We have a market-leading virtual team of underwriters, claims handlers and risk engineers dedicated to supporting our rail customers.

Finally, we have built strong relationships within the rail industry. This includes members of the Rail Review Board, Rail Accident Investigation Bureau and National Skills Academy of Rail.

What’s next for Rail at Intact Insurance?

We continue to support our mantra within Rail of wanting to be a partner to the industry, rather than just another supplier. We are working hard behind the scenes on a bold strategy which includes;

• maximising our strategic position as one of the UK and Europe’s leading rail insurers,
• expanding into areas where we currently have limitations,
• expanding our expertise in the industry,
• supporting customers in managing climate risks and earth movement, by using customer innovation tools such as satellite technology.

By showing the industry and our customers that we are serious about this, in turn, the industry continues to have faith in us as an insurer.