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UK nuclear insurers provide 'certainty' to support decarbonisation : Regulation & Safety

The UK nuclear insurance pool has expanded its capacity to EUR1.2 billion (USD1.4 billion), which will provide the "insurance certainty" to allow the nuclear sector to support the net zero transition, London-based Nuclear Risk Insurers said yesterday. It has finalised its position on covering the extensions of liability created as part of the 2004 Protocol Amendment to the Paris Convention which comes into force on 1 January 2022. ....

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Study examines nuclear liability insurance market : Nuclear Policies

26 January 2021
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Considerable new capacity could be available in the insurance-linked securities market for the transfer of nuclear third-party liability risks, a study conducted on behalf of the European Commission has concluded. However, this new capacity would only be available under the right structures and terms.
(Image: European Commission)
Three international conventions - the Paris/Brussels Conventions, the Vienna Convention and the Convention on Supplementary Compensation - currently provide the foundations for the nuclear liability arrangements. Nuclear liability is limited in time and amount by these conventions, and by national legislation that largely follows the principles established by them. Beyond the financial security limits imposed on nuclear operators, the state can accept responsibility as an insurer of last resort. ....

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