"A new reactor at Calvert Cliffs, for example, must carry a total of only about $450 million ...in liability coverage for off-site damages under the Price-Anderson Act.
...In contrast ... Constellation Energy’s insurance coverage for damage to its own property and interruption of service is more than 14 times as high, at more than $6 billion."6.1.4. Availability of Related Insurance Products Is Already Greater than the Supposed Maximums for Third-Party Damages
As noted above, primary insurance coverage levels have barely increased on a real-dollar basis in 50 years. The industry maintains that the under- writing capacity that would allow it to buy larger amounts of primary coverage does not exist. What is unclear, however, is whether this alleged lack of higher insurance levels is really a market structure issue or just an issue of price—whether with higher premiums the needed larger policies would emerge from marketplace insurance providers.
Evidence from related insurance markets sug- gests that the limitations may indeed be price- driven. This is because higher limits have emerged in a related market sector, involving the nuclear utilities’ wish to protect themselves from risk rather than third parties. A new reactor at Calvert Cliffs, for example, must carry a total of only about $450 million (present value—see Table 21) in liability coverage for off-site damages under the Price-Anderson Act. This includes both Tier 1 insurance and Tier 2 retrospective premiums. In contrast, based on a review of financial filings with the Securities and Exchange Commission, Constellation Energy’s insurance coverage for damage to its own property and interruption of service is more than 14 times as high, at more than $6 billion(Table 22).
NUCLEAR POWER:
Still Not Viable without Subsidies
Doug Koplow w/ Union of Concerned Scientists
Pg 82-83
Download here:
http://www.ucsusa.org/nuclear_power/nuclea... "A new reactor at Calvert Cliffs, for example, must carry a total of only about $450 million ...in liability coverage for off-site damages under the Price-Anderson Act.
...In contrast ... Constellation Energy’s insurance coverage for damage to its own property and interruption of service is more than 14 times as high, at more than $6 billion."Yes, Pam, I agree - those damned "anti-nuclear" activists!!!
How DARE those arrogant SOBs reveal the true story behind the nuclear industry's propaganda. Don't they know how much it adds to the cost of doing business to have to create and spread those lies?
Biography:Doug Koplow founded Earth Track in 1999 to more effectively integrate information on energy subsidies. Over the past 17 years, Mr. Koplow has written extensively on natural resource subsidies for organizations such as the National Commission on Energy Policy, the Organisation for Economic Cooperation and Development (OECD), the United Nations Environment Programme (UNEP), Greenpeace, the Alliance to Save Energy, and the U.S. Environmental Protection Agency. He has analyzed scores of government programs and made important developments in subsidy valuation techniques.
His work outside of the subsidy area has included water conservation, wastewater treatment, hazardous waste tracking, recycling, and brownfields redevelopment. Working collaboratively with other organizations, Earth Track focuses on ways to more effectively align the incentives of key stakeholder groups and to leverage market forces to help address complex environmental challenges. Mr. Koplow holds an MBA from the Harvard Graduate School of Business Administration and a BA in economics from Wesleyan University. He served on United Nations Environment Programme's Working Group on Economic Instruments from 2001-2004; and the National Recycling Coalition's Policy Workgroup from 1998-2003.
http://www.eoearth.org/profile/Doug.koplow "A new reactor at Calvert Cliffs, for example, must carry a total of only about $450 million ...in liability coverage for off-site damages under the Price-Anderson Act.
...In contrast ... Constellation Energy’s insurance coverage for damage to its own property and interruption of service is more than 14 times as high, at more than $6 billion."
