Accident Indemnification
The Vienna Convention on Civil Liability for Nuclear Damage puts in place an international framework for nuclear liability. However states with a majority of the world's nuclear power plants, including the U.S., Russia, China and Japan, are not party to international nuclear liability conventions.
In the U.S., insurance for nuclear or radiological incidents is covered (for facilities licensed through 2025) by the Price-Anderson Nuclear Industries Indemnity Act.
Under the Energy policy of the United Kingdom through its Nuclear Installations Act of 1965, liability is governed for nuclear damage for which a UK nuclear licensee is responsible. The Act requires compensation to be paid for damage up to a limit of £150 million by the liable operator for ten years after the incident. Between ten and thirty years afterwards, the Government meets this obligation. The Government is also liable for additional limited cross-border liability (about £300 million) under international conventions (Paris Convention on Third Party Liability in the Field of Nuclear Energy and Brussels Convention supplementary to the Paris Convention).
Read more about this topic: Nuclear Power Plant
Famous quotes containing the word accident:
“We should be blessed if we lived in the present always, and took advantage of every accident that befell us, like the grass which confesses the influence of the slightest dew that falls on it; and did not spend our time in atoning for the neglect of past opportunities, which we call doing our duty.”
—Henry David Thoreau (1817–1862)