§ Mr. Llew SmithTo ask the Secretary of State for Trade and Industry what is the size of the insurance liability fund set aside to underwrite accidents at United Kingdom nuclear facilities; what authority manages the fund; and if any part of the fund is invested. [108681]
§ Mrs. LiddellUnder the Nuclear Installations Act 1965, the operators of nuclear facilities in the UK are required to hold third party liability insurance to cover up to £140 million of damage resulting from accidents in nuclear installations. In the event of a severe nuclear accident in the UK, supplementary compensation would be made available in addition to this under the Brussels Convention Supplementary to the Paris Convention, providing an amount of compensation totalling £300 million Special Drawing Rights of the IMF. We are currently considering substantial increases in the amount of compensation available under the Act.
Insurance arrangements must be approved by the Secretary of State; operators without a Government indemnity purchase insurance from private sector insurers.