§ Lord Hylton
asked Her Majesty's Government:
What insurance premia or provisions are now made annual]) in respect of nuclear power stations under the Nuclear Installations (Licensing and Insurance) Act 1959 or otherwise, as a protection against accidents and third party claims; and what is the current government contribution.
§ Viscount Davidson
The Nuclear Installation Act 1965, as amended, requires the operator of a nuclear power station to provide financial security (by insurance or otherwise) of £20 million per incident. The Act also contains provision for further payments out of public funds up to a maximum of 300 Special Drawing Rights (SDR) (currently equivalent to about £230 million). Details of the premia paid are commercial matters for the operators.