Nuclear Risks Insurance

Third party liability insurance

The Slovak Nuclear Insurance Pool currently covers the following liability risks:  

1. a) Mandatory Liability Insurance of a Nuclear Installation Operator for nuclear damages incurred to third parties as a consequence of operation of a nuclear installation or from transportation of nuclear material pursuant to Act No. 54/2015 Coll. on Civil Liability for Nuclear Damage and  on its Financial Coverage and on changes and amendments to certain laws.

         This Insurance is designed namely for:

   • the authorisation holders for the commissioning of a nuclear installation;
   • the authorisation holders for operation of a nuclear installation;
   • the authorisation holders for decommissioning stage;
   • the authorisation holders for transportation of radioactive materials.

   Liable for nuclear damage on grounds of the international agreement (Vienna Convention on Civil Liability For Nuclear Damage) to which is the Slovak Republic a party.

2. b) Liability Insurance of Suppliers of products and services for nuclear installation operators;
3. c) Insurance of Directors and Officers Liability of a company for a damage arising as a consequence of nuclear damage;
   • This insurance is available only for the clients who have concluded a valid insurance cover for Directors and Officers for conventional damage.

Material damage insurance

The Slovak Nuclear Insurance Pool currently covers the following material risks:

1. Property Damage Insurance of Nuclear Installations from the basic scope of insurance cover, i.e. FLEXA (Fire, Lightning, Explosion, Aircraft) to All Risks insurance covers, with additional insurance of nuclear damages, i.e. damages caused by:
   • extremely high temperatures of uncontrolled nuclear reaction, and/or
   • radioactive contamination or activation.

     This insurance can be extended by additional insurance of business interruption due to material damage that is insured.

2. Engineering Insurances as follows:
   • Machinery Breakdown Insurance (MB)
   • Erection All Risk Insurance (EAR)
   • Contractors All Risk Insurance /Erection All Risk Insurance (CAR/EAR)
3. Cargo Insurance of Nuclear Material (Cargo Insurance).
   • It deals with insurance of nuclear material in transit (fresh nuclear fuel, semi-finished products, substrates, emitters, equipment etc.).
   • The scope of Insurance can vary depending on the nature of transported material from very basic coverage to All Risks coverage.
4. Property Damage Insurance for suppliers of nuclear installation operators (especially decontamination costs).