Professional Documents
Culture Documents
Risk
Insurer
A B C
Co-insurers
Reinsurers 1 2 3
6
NLI, November 2011
Particularities of Nuclear Risk 3
Spread of risk
Insurance of Member 1
installations in
country B
Member 2
Pool etc
country B Member 1
Member 1
Member 2 Member 2
etc etc
Insurance of Insurance of
installations in installations in
country A country C
techn. acceptability of
convention adherence
installation
-o–
-o–
acceptable domestic
adequate regulatory
nuclear legislation
control
no trade restrictions
All Pools:
Nuclear Power Stations
Most Pools:
- Other Installations of the Nuclear Fuel Cycle
- Nuclear Transports
Some Pools:
Radioisotopes or Nuclides
IEA, December 2013 12
Types of Insurance Cover
Onsite
Material Damage
Insurance
Cover
No insurance obligation, freedom of negotiation
Standard practice: fire & allied perils plus nuclear perils
Some pools: machinery breakdown cover
Some pools: business interruption cover (difficult!)
Exceptional: pool cover for CAR/EAR exposures
Channelling of liability
insurable
Total: $12.015bn
SECONDARY FINANCIAL
PROTECTION LAYER
$11.64 Billion
($111.9 Million x 104 Reactors)
Insurance
Policies Limit: US nuclear pool & reinsurers
$375M
Total: € 15 bn ……………
€ 10 bn catastophe only
cover provided by the
risk transer insurance
market?
€ 5 bn …………………….
€ 2.5 bn catastrophe only
cover provided by nuclear
utilities (like Germany)
€ 2.5 bn ………………….
€ 2.5 bn statutory cover
providing by pools,
IEA, December 2013 mutuals, states 18
Risk Characterization
Insurance surveys
http://www.nuclearpools.com/procedures.asp