Adequate insurance cover offered for nuclear incidents in India: Jitendra Singh
New Delhi: Union minister Jitendra Singh on Wednesday said that there was adequate insurance cover offered for nuclear incidents in the country. In a written reply to a question in the Lok Sabha, the minister said, India has enacted Civil Liability for Nuclear Damage (CLND) Act 2010 to provide for civil liability for nuclear damage and prompt compensation to the victims of a nuclear incident through a no-fault liability regime channelling liability to the operator.
Under the Act, the operator has to maintain insurance or financial securities or a combination of both, for covering his liability in respect of the nuclear incident. The Act also limits the liability of the nuclear operator for each nuclear incident.
The minister informed that without an insurance cover or financial securities, nuclear facilities cannot be operated, and operators are mandated to renew insurance policy or financial securities before the expiry of the period of validity. The liability of the nuclear operator in the event of a nuclear incident is classified into three distinct categories.
For nuclear reactors with thermal power equal to or above ten MW, the liability stands at an amount of rupees one thousand five hundred crores. In the case of spent fuel reprocessing plants, the liability is set at rupees three hundred crores.
For research reactors with thermal power below ten MW, fuel cycle facilities (excluding spent fuel reprocessing plants), and transportation of nuclear materials, the liability is limited to rupees one hundred crores. India Nuclear Insurance Pool (INIP) was set up with GIC-re, and several other Indian insurance companies with a capacity of 1500 crore on 12 June, 2015 to provide insurance to cover the liability as
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