Agenda - 02-09-1999 - 1 - Laserfiche WebLink

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'S v i CjV2 AAM� �• � /Iorvr4f6 1,k INSURANCE v° Nature and Extent of the Risks Another factor of great importance and interest to the private atomic energy industry is that of insur- ance protection in the operation of nuclear facilities. The risks involving damage or injury at the site of the facility appear to be of the type normally covered by the insurance industry. The primary problem, however, arises from the fact that there exists a remote possibility of a catastrophe which could be substantially more serious than any visualized in other types of industrial opera- tions. That this potential is remote is illustrated by the fact that the Commission's reactor operations re- cently reached the sizeable total of 700,000 hours of reactor operation without occurrence of any serious ac- cidents. Under comparable conditions there would be, therefore, only a small probability of very extensive claims for damage against reactor operators, the manu- facturers of reactor equipment and their insurers. This experience record, the research and development work under- way by Commissionts laboratories and other organizations, and the rigorous review of hazard problems in connection with the licensing of atomic energy facilities as described earlier, all support the conclusion as to the remoteness 19