nuclear-news

Inadequate insurance for Koodankulam nuclear power plant

Koodankulam N-plant insured for Rs 8,000 cr
http://www.mydigitalfc.com/insurance/koodankulam-n-plant-insured-rs-8000-cr-846 By R Srividhya   May 02 2012     , Chennai, The controversial Koodankulam Nuclear Plant in Tamil Nadu has been insured by United India Insurance for a sum of Rs 8,000 crore carrying a premium of Rs 35 crore. However, the insurance covers only the equipment and infrastructure and does not include the nuclear reactor and possible human losses arising out of a possible reactor failure.

The installation and erection process of the plant has been insured with the company for the past seven years, company officials said and would continue till the commissioning of the plant.

“After the commissioning of the plant, which is expected to happen in a few months, the coverage would only be for the cold zone, outside the reactor area and would not include the reactor region, known as the hot zone,” said PK Mahapatra, deputy general manager, United India Insurance. About 60 per cent of the risk has been reinsured with Swiss
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May 3, 2012 - Posted by Christina Macpherson | business and costs, India