Document Details

Many Nuclear Insurance Issues still Unclear
Author:	Ransome-Lewis, Rebecca, Read, Colin
Co-Author(s):

The current regime for liability for the civil nuclear industry in the UK is governed by international conventions which are transposed into UK law by the Nuclear Installations Act 1965 (the NIA). The key principle enshrined in this legislation is that the operator of a nuclear power facility (also referred to as the site licensee) is exclusively liable on a strict, no fault basis, for all third party property damage and third party personal injury claims which are caused by a nuclear incident. Recent changes to the international liability regime aim to provide more compensation to more people for a wider range of nuclear damage. Once implemented in the UK, these are likely to mean that the maximum liability, for which the site licensee can be held liable, will increase to £600M. The Government's stated intention to carry out a public consultation in the autumn of 2009 and then to lay regulations by the end of 2009 with a view to bringing them into force by the end of 2010, has been put back a number of times. The unresolved problem is whether there is sufficient capacity in the private insurance market to meet the increased level of financial security needed. Put simply, there may not be sufficient numbers of insurers in the domestic pools to meet the overall demand for cover.

ISBN:
Price:	£21.28 (£21.28 inc.)
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