Nuclear Insurers, Energy Dept. Urge Congress to Renew Price-Anderson

July 1986
Risk Management (00355593);Jul86, Vol. 33 Issue 7, p54
Trade Publication
This article reports that the nuclear insurance industry and the U.S. Department of Energy have asked the Congress for the renewal of the Price-Anderson Act. The legislation governs liability in the event of an accidental discharge of radiation from civilian nuclear facilities in the country. The Act allows for the orderly development of nuclear power while taking reasonable steps to protect the public. It provides a sound basis for the continued use and development of nuclear power facilities. The accident at the Chernobyl plant in Ukraine has prompted some people to reexamine the U.S. nuclear power program and the federal liability law associated with it. There is no actuarial basis for determining either insurance premiums or capacity commitments for nuclear facilities. The provisions of the Act would affect limitations on liability, statutes of limitation and coverage for a range of activities associated with a nuclear accident. The initiatives prepared by the government to revitalize the nuclear energy option include programs to help develop and certify advanced light water reactors, to enhance safety and licensability, to improve the operability and economics of nuclear power, to support the reenactment of Price-Anderson and to support the licensing and economic regulatory reform.


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