Veteran Executive and Railroad Insurance Specialist
LAS VEGAS, NV, May 14, 2018 (GLOBE NEWSWIRE) -- Las Vegas Railway Express, Inc. (OTCPK: XTRN), d/b/a United Rail Inc., owner of the X Train brand and brand licensor, today announced that it has appointed veteran executive and railroad insurance specialist Lou Schillinger as President, effective immediately.
Mr. Schillinger is the Founder, President, and CEO of Port Austin, MI – based United Shortline Insurance Services Inc. (USIS). USIS has been serving the rail industry with innovative and railroad responsive insurance products for the past 26 years. It is the largest Managing General Agency providing insurance to over 30 percent of the shortline railroad industry and is credited with establishing and maintaining the only fully Admitted Railroad Liability Program in the country since 1994.
On May 8, 2018, Las Vegas Railway Express announced that it had acquired a 49 percent interest in United Shortline Insurance Services as a strategic partner to continue its acquisition of shortline passenger and freight operations.
Las Vegas Railway Express Chairman and CEO Michael Barron said,” Lou Schillinger is a true expert in the field of railroad insurance. His accomplishments over his 40-year career are extensive and well documented. Lou adds great depth to our business, and we are very pleased that he has accepted the role of President in our expanding company.”
In 1985, shortly after the deregulation of the United States railroad industry, USIS began to produce unique Railroad Industry Liability and Property products to the growing shortline and regional railroad industry throughout North America. Mr. Schillinger was responsible for developing the policy language, current rating structure, underwriting guide, claims handling and disaster management manuals. USIS has underwritten either alone or with various consulting underwriters, virtually every shortline and regional railroad in America during the last 26 years.
In 2001 USIS and MARSH combined to develop a Certified Safety Program for the American Shortline and Regional Railroad Association (ASLRRA) and became the first “endorsed” liability insurance product in ASLRRA history. Mr. Schillinger was awarded the exclusive marketing rights for Class I Railroads Railroad Protective Liability Program from Hudson Insurance Company in 2007, developed the first association insurance program for the Rail Passenger Car Alliance (RPCA) in 1999 and North American Railcar Owners Association (NARCOA). In 2007, he formed US Rail Insurance Company, Inc. (RRG) the first and only railroad owned insurance company.
Mr. Schillinger has conducted railroad liability seminars for agents, legislators, industry groups, and client railroads throughout the country. In addition, he has presented a Small Business Curriculum for a portion of the University of Pennsylvania’s MBA Programs and received Certification in Railway Management from Michigan State University in 2009. Mr. Schillinger is a 1972 graduate of Michigan State University earning a BA in Financial Administration and has taken numerous hours of continuing education. An avid maritime lighthouse historian, Mr. Schillinger acquired and began restoring an offshore Great Lakes lighthouse “Port Austin Reef Light”, located 2.5 miles north of Port Austin in Lake Huron in 1985 and continues this pursuit to this date both directly and member of various state wide, and national lighthouse organizations.
About Las Vegas Railway Express
Las Vegas Railway Express, Inc. is in the business of acquiring short line railroads in both the passenger operations sector as well as freight operations. The company has been active in this space for five years. It has operated the Santa Fe Southern Railway and plans to develop rail infrastructure projects and terminal operations. It also has licensed X Rail Entertainment, Inc. to use the X Train brand on its planned Los Angeles to Las Vegas X Train service. Revenues from the licensing are calculated at 5% of the operating revenue of X Rail's revenue derived from the deployment of the X Train brand on X Rail's operating trains.
This press release may contain forward-looking statements regarding Las Vegas Railway Express, Inc (the “Company”) within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are “forward-looking statements”, including statements regarding: the financial outlook of the Company, the general ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “seeks,” “should,” “could,” “intends,” or “projects” or similar expressions, and involve known and unknown risks and uncertainties. The Company’s actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, and may be beyond the Company’s ability to foresee or control. The Company does not undertake an obligation to update or revise any forward-looking statements, and all forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.
Contact: Las Vegas Railway Express, Inc. Michael Mason, VP (917) 841-8371 Media Contact: Success City Online Ms. Maria Bailey Maria@successcityonline.com (702) 271-0591