I have been kicking around the idea of a large loss trust fund within the next transportation bill that would serve as a liability shield between the infrastructure operators (Class 1 or State DOT) and operators to enable other entities to operate service. It would be patterned after the Oil Spill Liability Trust Fund, which is supposed to be self-liquidating from a subscription fee, but insulates the relatively small private pipeline operators from potentially large liability.
I figure it could function for passenger rail at about a $0.006/passenger mile fee. It would cover losses above $20k or so and be open to other ground and inland water operators, most importantly motorcoach operators. Similar to automobile insurance it would be able to attempt to collect when other parties are responsible for the accident or be made whole from the highway trust fund for grade grossing incidents caused by roadway users beyond the amount their insurance pays out. But to protect private capital it would also cover damage to a carrier's equipment and lost revenue. I figure the oil tie in should allow it to pass. Here is the text of the oil spill fund...
http://www.law.cornell.edu/uscode/text/26/9509
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