The State Atomic Energy Corporation ROSATOM

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Risk insurance

 РОСАТОМ » Information about the Corporation » Risk management » Risk insurance

One of approaches to risk management is risk insurance.

The Corporation’s enterprises and organisations meet the full scope of the requirements of the current legislation as well as the by-laws concerning the use of mandatory and enjoined types of insurance, such as insurance for liability for nuclear damage, mandatory insurance for the liability of owners of hazardous production facilities and hydraulic structures, mandatory insurance for the liability of owners of vehicles, liability insurance during construction and installation, mandatory insurance for the civil liability of carriers for damage to the life, health, and property of passengers, etc. To reduce the risk of financial losses due to damage and loss of property, as well as risks associated with the quality of life and health of employees, personnel and property are insured.

To increase the reliability of insurance protection, the Corporation jointly with the insurance company continues working on the possibility of reinsuring the property risks of the Russian organisations operating through the international pooling system. In 2013, a sizeable part of the civil liability for the nuclear damage of Russian NPPs was reinsured in the international pooling system, which confirmed that the international nuclear insurance community recognised the sufficient safety and reliability of Russian NPPs.

International insurance inspections were conducted at the Bilibino, Kalinin, Kursk, and Kola NPPs (with the participation of international pooling system experts). The inspections analysed the risks associated with the handling of nuclear fuel, NPP operation, staff skill levels, fire safety, environmental monitoring, etc. From the inspection’s findings, the international experts concluded that the safety level of the inspected plants met international standards and confirmed the possibility of reinsuring the property risks of the Russian organisations operating in the international pooling system. The Kursk and Kola NPPs were re-inspected, and the international insurance experts concluded that a sufficiently high level of safety was achieved there and that substantial work had been done to follow the recommendations of previous inspections.

In 2014, the plan is to continue insurance inspections while maintaining the core enterprises of the nuclear industry.

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