NUCLEAR INSURANCE
July 1st, 2003
BY ALAN OSBORN
THE EUROPEAN Commission has formally asked EU ministers to approve a new protocol to the Paris Convention on international nuclear insurance, allowing a significant extension of cover. Brussels says this may now be widened to cover damage to the environment, non-material damage and the cost of safeguard measures.
Geographical scope is also being extended to cover countries outside the Convention like Ireland and Luxembourg, while nuclear operators' liability will be raised from approximately Euro 21 million to a minimum of Euro 700 million.
THE EUROPEAN Commission has formally asked EU ministers to approve a new protocol to the Paris Convention on international nuclear insurance, allowing a significant extension of cover. Brussels says this may now be widened to cover damage to the environment, non-material damage and the cost of safeguard measures.
Geographical scope is also being extended to cover countries outside the Convention like Ireland and Luxembourg, while nuclear operators' liability will be raised from approximately Euro 21 million to a minimum of Euro 700 million.
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