Академический Документы
Профессиональный Документы
Культура Документы
The Mutuals
CORPORATE ICONS
EMANI European Mutual Association for Nuclear Insurance NIRA Nuclear Industry Reinsurance Association ELINI European Liability Insurance for the Nuclear Industry BlueRe m.a. Re-insurance association for Nuclear Liability
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Agenda
1. Which insurance are needed to operate a nuclear site? 2. Worldwide overview of limits 3. Impact on the Nuclear Operators Liability 4. Where is the insurance capacity coming from 5. What capacity is available 6. Conclusions
New
Revised Paris Convention Convention 30 years for personal injury 10 years for all others
Territorial limits
Does not cover injury of damage in a country that are not a party to the convention
Installation country Other Paris signatory states Non-nuclear states Austria,Ireland and Luxembourg Vienna Convention countries who have ratified the joined Protocol Any other country with reciprocal arrangements
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$375.000.000
Idem
C$1.000.000.000 to C$ 2.000.000.000
600.000.000 to 2.000.000.000
Africa Azia
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3.Impact on the Nuclear Operators liability Increase of the liability amount Extension of liability period to 30 years Extension of the definition of nuclear damage Inclusion of economic loss Loss of income Cost of the measures of reinstatement due to the change on the environment
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Preventive measares
Overview of coverage
Amended Conventions ?
Economic Loss
BI 30 years Current limits 91 to 418 mio Full R.P.C 700 to 1.200 mio Bodily Injury 10 years Material Damage & Bodily Injury
Insufficient private insurance market capacity Unwillingness to cover extended periods Unwillingness to cover all the categories Nuclear Pools not able/willing to offer a full solution European Nuclear Operators opted for the mutualisation of their risks
5/06/2012
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Alternative solution ?
A mutual insurance company belonging to the nuclear operators within Europe The operators want to take their responsability and provide/comply with the conventions Keep control over the funds to be sure they are available in case of need Act as an independent organisation but mutualize the risks
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Capacity
ELINI /BlueRe min 50% of the capacity ELINI/BlueRe = all heads of damages National Nuclear Pool r/i by BlueRe for the Difference in Conditions
Nuclear Pool
BlueRe
BlueRe
ELINI
5/06/2012
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Nuclear Pools 1956 Material Damage Nuclear liability Country by country - reciprocity Accumulation NEIL Mutual Insurance company mainly active in the US Material Damage ONEIL out of Ireland Northcourt - 2012 Underwriting Agency Nuclear Coverage
EMANI - 1978 Material Damage Insurer 62 members- Europe-SA-Canada-US 17 different countries NIRA - 1986 Reinsurance Mutual 42 members in Europe SA Canada -US
ELINI - 2002 Nuclear Liability Insurer 36 members 14 different countries in the EU- SA - Canada
Capacity providers
Providers NEIL & ONEIL Nuclear Pools EMANI ELINI Material Damage Yes Yes Yes No NTPL Yes Yes No Yes Re-insurance Yes some Yes No
Northcourt
NIRA
Yes
Yes
No
Yes
No
No
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Capacity providers
Providers US$ NEIL & ONEIL Material Damage Gross 2.750.000.000 Net capacity 850.000.000 Re-insurance 1.900.000.000
Nuclear Pools
EMANI ELINI Northcourt NIRA Total
1.500.000.000
815.000.000 No 150.000.000 55.000.000 5.270.000.000
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1.500.000.000
340.000.000 No 150.000.000 55.000.000 2.895.000.000
1.500.000.000
475.000.000 No None No 3.875.000.000
Capacity providers
Providers US$ NEIL & ONEIL NTPL Gross 100.000.000 Net capacity 100.000.000 Re-insurance None
Nuclear Pools
EMANI ELINI Northcourt NIRA Total
1.500.000.000
None 135.000.000 0 25.000.000 1.760.000.000
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1.500.000.000
None 135.000.000 0 25.000.000 1.760.000.000
Accumulation
None No None No 1.500.000.000
Capacity providers
Providers US$ NEIL & ONEIL Material Damage Net 850.000.000 NTPL NET 100.000.000 Re-insurance 1.900.000.000
Nuclear Pools
EMANI ELINI Northcourt NIRA Total
900.000.000
340.000.000 0 150.000.000 55.000.000 2.295.000.000
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600.000.000
0 135.000.000 0 25.000.000 860.000.000
0
475.000.000 No None None 2.375.000.000
6. Conclusions
Cost of a nuclear site U$ 5.000.000.000 min Cost of a nuclear accident in NTPL ? Probability of an accident extreemly remote Accumulation is a problem for all insurers Transparancy would help all parties Heavy driven by Re-insurance Room for all parties Insurers Re-insurers- mutuals etc...
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Final result
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