NRC Increases Insurance Coverage for Nuclear Reactors

NRC Increases Coverage for Nucs.pdf

On December 30, 2016 (81 FR 96347) the U.S. Nuclear Regulatory Commission (NRC) amended its regulations in a Final Rule to increase the required amount of primary nuclear liability insurance from $375 million to $450 million for each nuclear reactor that is licensed to operate, is designed for the production of electrical energy, and has a rated capacity of 100,000 electrical kilowatts or more. This change conforms to the provision in the Price-Anderson Amendments Act of 1988 (Pub. L. 100-408) (Price-Anderson Act) that the amount of primary financial protection required of licensees by the NRC shall be the maximum amount available at reasonable cost and on reasonable terms from private sources.  This Final Rule was effective January 1, 2017.