The British railway safety research group has developed a risk assessment model for the railway infrastructure and major railway accidents. The major hazardous factors of the railway infrastructure were identified and classified in the model. The frequency rates of critical top events were predicted by the fault tree analysis method using failure data of the railway system components and ratings of railway maintenance experts, The consequences of critical top events were predicted by the event tree analysis method. They classified the Joss of accident due to railway system into personal. commercial and environmental damages. They also classified 110 hazardous event due to railway system into three categories. train accident. movement accident and non-movement accident. The risk assessment model of the British railway system has been designed to take full account of both the high frequency low consequence type events (events occurring routinely for which there is significant quantity of recorded data) and the low frequency high consequence events (events occurring rarely for which there is little recorded data). The results for each hazardous event were presented in terms of the frequency of occurrence (number of events/year) and the risk (number of equivalent fatalities per year).