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India’s Nuclear Liability Bill makes it hard for nuclear reactor sellers to get insurance

Nuclear damage: Should suppliers be liable? sify finance, | 2010-09-01 Nilendra Kumar lThe nuclear damage Bill has crafted a pragmatic provision to bind operator and supplier under contractual liabilities, but suppliers may find it tough to obtain insurance to back such contracts

Even the most stringent safety standards cannot completely eliminate the possible of nuclear accidents. The Civil Liability for Nuclear Damage Bill is a significant step needed to activate the 2008 Indo-US civilian nuclear agreement.

The amendment to Section 17 is a reasonable and logical step towards introducing suppliers’ liability. The original Bill had not crafted any mechanism that could provide a right of recourse to an operator against the supplier. Nor did the Bill give any right to the victims of a nuclear accident to take suppliers to court to demand compensation. The amendment to Section 17 has set right these inadequacies to a major extent…….The earlier controversial text that would have permitted a liability claim only if there was a proof of wilful intent to cause damage has been recast…..Nuclear damage: Should suppliers be liable?

September 1, 2010 - Posted by Christina Macpherson | business and costs, India | antinuclear, nuclear costs, reactors