An official says locking in insurance coverage saved taxpayers millions because it insulated the project from potential price increases.
NJ Transit told The Record newspaper it is negotiating with a group of 20 insurance companies.
NJ Transit's government and external affairs chief Paul Wyckoff told the newspaper in a written response the talks are focused on protecting taxpayers.
Christie scrapped the $8.7 billion project, which sought to double rail passenger capacity between New Jersey and Manhattan, because of potential cost overruns.
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Information from: The Record, http://www.northjersey.com
