The Cabinet of Ministers adopted a resolution “ On approval of the Regulations on the Nuclear Insurance Pool”
The Cabinet of Ministers of Ukraine adopted a resolution “On approval of the Regulation on the Nuclear Insurance Pool”. This is notified by the Ministry of Energy of Ukraine.
“The approval of the provisions of the Nuclear Insurance Pool is an important step towards strengthening the financial mechanisms of nuclear safety”, said the Minister of Energy of Ukraine Svitlana Grynchuk.
According to her, the adopted document is a clear signal to international partners about Ukraine’s responsible attitude to issues of safety, protection of people and the environment in the field of nuclear energy use. Qualitative regulatory regulation of the pool’s activity will contribute to the formation of a civilized insurance market in the field of nuclear energy and the creation of conditions for effective interaction between state and private institutions.
“The pool mechanism allows to consolidate financial resources of insurers and ensure real coverage of possible losses. This is an important element of the country’s energy security, Svitlana Grynchuk added.
The resolution was developed by the Ministry of Energy to implement the law “ On civil liability for nuclear damage and its financial support” and for the restoration of regulatory regulation of the activities of the nuclear insurance pool, which is a key mechanism of financial assurance of the liability of operators of nuclear installations for nuclear damage.
Nuclear insurance pool is an association of insurers licensed to carry out activities under insurance class 13, provided for by the law on insurance. Its main purpose is to ensure the financial capacity of the civil liability insurance system of nuclear plant operators and to guarantee an adequate level of protection of the population, the environment and property in the event of a nuclear incident.
The new regulation defines the status, task and purpose of the pool, membership procedure, management system, and also regulates insurance, coinsurance and reinsurance procedures for possible nuclear damage.
