Mass. transit system renews terrorism policy

The Boston-area public transit agency, the Massachusetts Bay Transit Authority, has renewed its terrorism insurance policy.

The policy includes a $350,000 deductible and would cover up to $500 million in damage to MBTA property, or about 10 percent of the total value of its trains and other holdings.

MBTA General Manager Daniel Grabauskas told The Boston Globe that after Sept. 11, the possibility of future terrorists attacks can’t be ignored. “Terrorism is one of those new man-made realities that we need to insure against,” he said.

The Big Dig project and the state’s turnpike and airport authorities also carry terrorism insurance.