U.S. companies that operate nuclear energy facilities are required by the U.S. Nuclear Regulatory Commission to maintain property damage insurance and a separate decommissioning trust fund to ensure funding is available to decommission the facility.
Nuclear Electric Insurance Limited (NEIL), the U.S. industry’s mutual insurance company, provides insurance coverage for accidental property damage and extended down time resulting from an incident. For property damage and on-site decontamination, up to $2.75 billion is available to each nuclear energy facility. The policies provide coverage for direct physical damage to, or destruction of, the insured property as a result of a casualty loss, including an accident. The policies prioritize payment of expenses to stabilize the reactor to a safe condition and then decontaminate the plant site.
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