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Insurance for losses related to nuclear reactors – no way!

it is very clear that general insurance will not cover coastal property owners from losses related to nuclear plants.

NO INSURANCE FOR COASTAL – or any – PROPERTY NEAR NUCLEAR REACTORS | Coalition Against Nuclear Energy 4 oct 10, Energy Minister Dupuo Peters said that by the time a nuclear plant was constructed in SA, this country would not be able to afford enriched uranium.She also raised the valid point that coastal homes would be affected, since nuclear power plants would be built on the coast. All South Africans with property investments at the coast should take a look at their insurance policies.A typical household policy by Alexander Forbes for example states the following:

“The General Exclusion relating to Nuclear losses is restated as follows: Except as regards Personal Accident section, this policy does NOT cover any legal liability, loss, damage, cost or expense whatsoever or any consequential loss directly or indirectly caused by or contributed to by or arising from:
i) ionising, radiations or contamination by radio-activity from any nuclear fuel or from any nuclear waste from the combustion or use of nuclear fuel;
ii) nuclear material, nuclear fission or fusion, nuclear radiation
iii) nuclear explosives or any nuclear weapon
iv) nuclear waste in whatever form; regardless of any other cause or event contributing concurrently or in any other sequence to the loss.
For the purpose of this exclusion only, combustion shall include any self-sustaining process of nuclear fission.”

So it is very clear that general insurance will not cover coastal property owners from losses related to nuclear plants.

And emergency services or evacuations? Once again, South Africans who have tried to call for government ambulances in times of emergency will know the answer to that one.

NO INSURANCE FOR COASTAL – or any – PROPERTY NEAR NUCLEAR REACTORS | Coalition Against Nuclear Energy

October 4, 2010 - Posted by | business and costs, South Africa | , , , , , , , ,

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