TITLE

Nuclear Pools Announce Premium Refunds for Power Plant Operators

PUB. DATE
October 1983
SOURCE
Risk Management (00355593);Oct83, Vol. 30 Issue 10, p100
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Insurance premium refunds totaling more than $3.2 million have been sent to operators of nuclear power plants and related facilities in the U.S. in 1983, according to Burt C. Proom, president of American Nuclear Insurers (ANI). The refunds are part of the Industry Credit Rating Plan operated by the two nuclear insurance pools, ANI and the Mutual Atomic Energy Liability Underwriters, said Proom. Under this plan about 70 percent of each year's liability premium is placed in a reserve fund, used only to pay claims and expenses. After 10 years, the unused portion of the reserve fund is refunded to the policyholder, he said. The refunds represents an increase of approximately 41 percent over 1982 refunds and reflect the insurance pool's liability experience from their inception in 1957 through 1982, including the 1979 incident at Three Mile Island.
ACCESSION #
14356253

 

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