Nuclear energy
Nuclear energy insurance provides coverage for nuclear installations and activities pertaining to the nuclear fuel cycle. This basically means that it covers all risks which are exposed to a major nuclear accident, more specifically:
- nuclear reactor installations
- installations for the manufacture and processing of nuclear material (as defined in the relevant legislation)
- plants for separating isotopes from nuclear fuel
- plants for reprocessing nuclear fuel
- installations for storage of nuclear material
- other installations, containing nuclear fuel, radioactive material or waste resulting from the use of nuclear fuel
- nuclear material in transit.
Nuclear energy insurance does not extend to radioisotopes, which cannot or not anymore be considered to be radioactive material resulting from the use of nuclear material and devices for the production of ionising radiation, which do not comprise radioisotopes (X-ray equipment, cyclotrons etc.) as long as they are not situated in a nuclear installation as defined above.
Nuclear energy risks are generally excluded from the policies offered by the insurance and reinsurance markets. Cover is traditionally provided by national nuclear insurance pools, which reinsure with their counterparts in other countries.
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