SECTION 43. Liability policy for passenger rail services

Agreements between the authority or the Massachusetts Department of Transportation, or both, and a railroad for the provision of passenger rail services, or the operation or accommodation of passenger rail services provided by or on behalf of the authority or the Massachusetts Department of Transportation, or both, and freight rail services on or about the same rail corridor, shall provide that the authority or the Massachusetts Department of Transportation, as applicable, shall, on such properties and during such periods as such rail passenger services are provided or offered, secure and maintain a liability insurance policy covering the liability of the authority or the Massachusetts Department of Transportation, or both, as applicable, and the railroad, for property damage, personal injury, bodily injury and death arising out of the provision or operation or accommodation of such passenger rail services. Such policy shall name the authority or the Massachusetts Department of Transportation, or both, as applicable, as the named insured and the railroad as either a named insured or an additional insured and shall have policy limits of $75,000,000 per occurrence annually and $75,000,000 in the aggregate annually. In no event shall the authority, the Massachusetts Department of Transportation or the railroad be liable in excess of $75,000,000 for all claims for damage, whether compensatory or punitive, for property damage, personal injury, bodily injury and death arising out of the provision, operation or accommodation of such passenger rail services.

For the purposes of this section the following words shall have the following meanings unless the context clearly requires otherwise:

''Freight rail services'', all services performed in connection with the transportation of freight including, but not limited to, the operation of trains, trackage and equipment and the construction, reconstruction or maintenance of railroad equipment, tracks and any appurtenant facilities or the provision of trackage rights.

''Operation or accommodation of passenger rail services'', the performance of freight rail services upon properties where freight rail services and rail passenger services are provided or offered.

''Passenger rail services'', all services performed in connection with the transportation of rail passengers including, but not limited to, the operation of trains, trackage and equipment, and the construction, reconstruction, maintenance and operation of railroad equipment, tracks, stations and any appurtenant facilities or the provision of trackage rights.

''Railroad'', a person, railroad corporation or other legal entity in the business of providing rail transportation of passengers or freight; provided, however, that ''railroad'' shall not include a ''tourist railroad'' as defined in section 234 of chapter 160.