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Russian nuclear power plants insured for $27 billion

Russian nuclear power plants insured for $27 bln

The insurance case is recognized as loss, damage of insured property as a result of radiation impact, fire, lightning stroke, explosion  https://tass.com/economy/1328737MOSCOW, August 22. /TASS/ Rosenergoatom, a member of the electric power division of the Russian state-run nuclear corporation Rosatom, will ensure all domestic nuclear power plants (NPP) against catastrophic risks for 2 trillion rubles ($27 bln). Sogaz became the winning bidder according to minutes of the meeting of the procurement board, posted on the government procurement website.Rosenergoatom will pay the insurance premium of 3 bln rubles ($40.5 mln) to the insurer.

“All the property to be accounted as fixed assets” of Rosenergoatom’s nuclear power plants is registered under the insurance agreement, according to the posted draft agreement.

The insurance case is recognized as loss, damage of insured property as a result of radiation impact, fire, lightning stroke, explosion, crash of piloted aircraft, their parts or cargo, earthquake, volcanic eruption, hurricane, whirlwind, storm, typhoon and other natural disasters, unlawful acts of third parties, terrorism, sabotage, machinery and equipment failures and cyberrisks. The insurance will be valid from September 1, 2021 to August 31, 2023.

August 23, 2021 - Posted by Christina Macpherson | business and costs, politics, Russia