Metrolink needs £600m cover

THE body that co-ordinates public transport in Manchester is looking for an insurer to provide more than £600m of cover for the Metrolink tram system.

The Greater Manchester Passenger Transport Executive (GMPTE) has hired the multi-national insurance broker Locktons to find an insurer by the end of November when the current cover expires.

It wants property damage cover of around £600m and business interruption of £48m – to cover loss of revenue for two years.

In an advertisment for the work, the GMPTE said the insurance was for the, “infrastructure of the system including the operational risks of the light rail vehicles”.

The quoted figures relate to a one-year contract. The deadline for bids is November 5.