Nuclear Pool

On March 5, 2009 in the Republic of Belarus there was established Belarusian Nuclear Insurance Pool. Its participants are: BRUIC “Belgosstrakh” – Leading Insurer, ILLC “Belkoopstrakh”, JSIC “Belneftestrakh”, BRUE “Eximgarant of Belarus”, JSIC “PromTransInvest”, JSIC “Task”, SUE “Belarusian National Reinsurance Organization” – Leading Reinsurer. The aim of Belarusian Nuclear Insurance Pool creation is consolidation of financial opportunities for:

  • Insurance and Reinsurance of risks in relation to construction, start-up and operation of NPP in the Republic of Belarus;
  • Compliance with Vienna Convention requirements;
  • Reinsurance of risks ceded from foreign nuclear insurance pools.

Currently 30 nuclear insurance pools operate in the world. The peculiarity of the world pooling system is that it is possible to reinsure risks only in the countries where NPP operate or where there are national nuclear insurance pools. The major advantage of such reinsurance system is maximum security of payments as each national risk is allocated to shares in some dozens million dollars and it doesn’t present a problem in case of a nuclear incident for any pool to make a payment.
Nuclear Insurance Pools operate, as a rule, as non-commercial structures with the status of legal entities under the following principles:

  • Coinsurance and several liability of participants;
  • Usage of unified rules and tariffs;
  • Proportional allocation of liability and insurance premium in accordance with specified shares;
  • Implementation of unified policy on reinsurance of liability exceeding pool’s capacity.

Full package of services on nuclear risks insurance may include the following insurance classes:

  • Civil liability insurance of the nuclear installation operator;
  • Third-party liability at the transportation of radioactive substances, nuclear materials and waste;
  • Personnel insurance from casualties and negative influence of ionizing radiation in industry.

The Belarusian Nuclear Insurance Pool cooperates closely with the Ukrainian Nuclear Insurance Pool and the Russian Nuclear Insurance Pool. In the framework of the cooperation the projects on the reinsurance of nuclear risks of NNEGC “Energoatom ” SE and Rosenergoatom Concern OJSC , third-party liability for nuclear damage of the State Specialized Enterprise “Chernobyl Nuclear Plant” and also CAR/EAR risks and civil liability at the construction of Belarusian Nuclear Plant are carried out.

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