Given the recent nuclear disaster in Japan, along with the risk assessment and business impact analysis reports addressing organizations in the United States who have to fact unique risks from potential nuclear reactor accidents in the U.S., one of our readers asked if we could comment upon the question of insurance plans to cover nuclear reactor accidents and disasters.
In response to that request, we point our reader’s attention to a recent posting published 30 March 2011 on the Homeland Security Newswire website.
As you will read in the article, a little-known insurance pool in the U.S. created under the Price-Anderson Nuclear Industries Indemnity Act of 1957, provides insurance coverage for victims of nuclear reactor accidents.
The Nuclear Regulatory Commission (NRC) also states that “…disaster relief would also be available through state and local governments under the Robert T. Stafford Disaster Relief and Emergency Assistance Act. This would happen if the President declares a nuclear accident to be an emergency or major disaster.
For the record, the Energy Policy act of 2005 extended the Price-Anderson Act to Dec 31, 2025.
Click here to read more …and be sure to follow some of the valuable links in the article for more details and information on this important and potential risk management and business continuity related threat that where necessary must certainly be part of all business continuity and disaster recovery plan – both as a DR process and relief resource.
If applicable, please pass this information on to those disaster preparedness, crisis and emergency management team members as well as your PS-Prep strategy planners in your organization.
Photo Courtesy of cristaleriamarrero.com