Nuclear risks by insurance of installation and construction works

Abstract

This paper shows that the advent of nuclear risks at construction of nuclear energy facilities changes the structure of insurance of installation and construction risks. A new specialised insurance company, Nuclear Insurance Pool, appeared in the insurance system, together with two additional insurance agreements – an agreement for insurance of construction objects in case of damage or loss as a result of radiation exposure, and an agreement for insurance of civil liability for nuclear damage. The latter insurance agreement should be signed by the nuclear facility operator. Concluding such agreements is mandatory for compliance with the international obligations of the Russian Federation related to fulfilment of the conditions of the Vienna Convention of 1963 on Civil Liability for Nuclear Damage.