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Nuclear liabilities – the tax-payer is the insurer of last resort

 Protocols to amend two international instruments strengthening the rights
to compensation for those affected by nuclear energy accidents have been
formally ratified and will enter into force on 1 January. The Protocols to
amend the Paris Convention on Third Party Liability in the Field of Nuclear
Energy and the Brussels Convention Supplementary to the Paris Convention
were ratified on 17 December at the Paris headquarters of the OECD. The
protocols have been ratified by all of the contracting parties, with the
exception of Turkey, which has approved ratification but not yet deposited
its instrument.

Nuclear operators are liable for any damage caused by them,
regardless of fault. Liability is limited – both in terms of time and
amount – by both international conventions and national legislation.
Operators generally take out third-party insurance to cover their limited
liability, beyond which the state accepts responsibility as insurer of last
resort.

 World Nuclear News 21st Dec 2021

https://www.world-nuclear-news.org/Articles/Nuclear-liability-protocols-ratified-to-strengthen

December 24, 2021 - Posted by | 2 WORLD, business and costs, politics

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