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Revised Paris and Vienna Nuclear Liability Conventions: Challenges for Nuclear Insurers

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Abstract:

The revisions recently implemented to both the Vienna and Paris nuclear liability conventions are intended to widen significantly the amount and scope of compensation payable in the event of a nuclear accident. Whilst this is a laudable objective, the final extent of the revisions leaves nuclear site operators and their insurers with greater uncertainty as a result of the wider and unquantifiable nature of some aspects of the revised nuclear damage definition, in particular where reference is made to environmental reinstatement and extended prescription periods.

Document Type: Review Article

Publication date: August 1, 2006

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