Terms of Insurance for Nuclear Damage

Abstract

This study addressed the regulations of nuclear damage insurance, by elucidating the concept of nuclear damage insurance, its characteristics, and its effects. Furthermore, the study delineated the insurer's obligation to provide financial guarantees for compensation for nuclear damages, through an exposition of the scope of nuclear damage insurance and its problems and addressing the conglomerations of nuclear operators. It was recommended that contemporary insurance companies and systems should abandon traditional methods in the field of nuclear damage insurance. This entails devising insurance approaches and treatments that align with the magnitude and nature of nuclear damage. Additionally, it is imperative for states to support and protect the insurance sectors from the risk of insolvency or bankruptcy, which leads to shirking their responsibilities and obligations towards nuclear operators or the afflicted parties.