Nuclear Power Stations: Insurance

Department for Energy and Climate Change written question – answered on 12th August 2015.

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Photo of Lord Foulkes of Cumnock Lord Foulkes of Cumnock Labour

To ask Her Majesty’s Government what assessment they have made of whether there is sufficient capacity in the United Kingdom and European insurance markets, or elsewhere, to meet the requirements of the operators and contractors of planned nuclear power stations in the United Kingdom.

Photo of Lord Bourne of Aberystwyth Lord Bourne of Aberystwyth The Parliamentary Under-Secretary of State for Energy and Climate Change, Lord in Waiting (HM Household) (Whip), The Parliamentary Under-Secretary of State for Wales

Government is in regular contact with the insurance market to discuss the provision of insurance for nuclear operators’ third party liabilities, including for planned nuclear power stations in the United Kingdom. At present there is predicted to be sufficient capacity in the market, although the availability of such insurance will always depend on the circumstances at the time. Government will continue to monitor the insurance market for capacity in this area and to encourage insurers to enter the nuclear insurance market.

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