Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
The Three Mile Island accident was a partial meltdown of the Three Mile Island, Unit 2 (TMI-2) reactor on the Susquehanna River in Londonderry Township, Pennsylvania, near the Pennsylvania capital of Harrisburg. It began at 4 a.m. on March 28, 1979, and released radioactive gases and radioactive iodine into the environment. It is the worst accident in U.S. commercial nuclear power plant history. On the seven-point International Nuclear Event Scale, it is rated Level 5 – Accident with Wider Consequences.
A nuclear and radiation accident is defined by the International Atomic Energy Agency (IAEA) as "an event that has led to significant consequences to people, the environment or the facility. Examples include lethal effects to individuals, large radioactivity release to the environment, reactor core melt." The prime example of a "major nuclear accident" is one in which a reactor core is damaged and significant amounts of radioactive isotopes are released, such as in the Chernobyl disaster in 1986 and Fukushima nuclear disaster in 2011.
Home insurance, also commonly called homeowner's insurance, is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of use, or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.
The Chernobyl Nuclear Power Plant is a nuclear power plant undergoing decommissioning. ChNPP is located near the abandoned city of Pripyat in northern Ukraine 16.5 kilometers (10 mi) northwest of the city of Chernobyl, 16 kilometers (10 mi) from the Belarus–Ukraine border, and about 100 kilometers (62 mi) north of Kyiv. The plant was cooled by an engineered pond, fed by the Pripyat River about 5 kilometers (3 mi) northwest from its juncture with the Dnieper.
A disaster area is a region or a locale that has been heavily damaged by either natural, technological or social hazards. Disaster areas affect the population living in the community by dramatic increase in expense, loss of energy, food and services; and finally increase the risk of disease for citizens. An area that has been struck with a natural, technological or sociological hazard that opens the affected area for national or international aid.
The Chernobyl disaster was a nuclear accident that occurred on 26 April 1986 at the No. 4 reactor in the Chernobyl Nuclear Power Plant, near the city of Pripyat in the north of the Ukrainian SSR in the Soviet Union. Called the world's worst-ever civil nuclear incident, it is one of only two nuclear energy accidents rated at seven—the maximum severity—on the International Nuclear Event Scale, the other being the 2011 Fukushima nuclear disaster in Japan. The initial emergency response, together with later decontamination of the environment, involved more than 500,000 personnel and cost an estimated 18 billion roubles—roughly US $68 billion in 2019, adjusted for inflation.
The Price-Anderson Nuclear Industries Indemnity Act is a United States federal law, first passed in 1957 and since renewed several times, which governs liability-related issues for all non-military nuclear facilities constructed in the United States before 2026. The main purpose of the Act is to partially compensate the nuclear industry against liability claims arising from nuclear incidents while still ensuring compensation coverage for the general public. The Act establishes a no fault insurance-type system in which the first approximately $15 billion is industry-funded as described in the Act. Any claims above the $12.6 billion would be covered by a Congressional mandate to retroactively increase nuclear utility liability or would be covered by the federal government. At the time of the Act's passing, it was considered necessary as an incentive for the private production of nuclear power — this was because electric utilities viewed the available liability coverage as inadequate.
Nuclear safety is defined by the International Atomic Energy Agency (IAEA) as "The achievement of proper operating conditions, prevention of accidents or mitigation of accident consequences, resulting in protection of workers, the public and the environment from undue radiation hazards". The IAEA defines nuclear security as "The prevention and detection of and response to, theft, sabotage, unauthorized access, illegal transfer or other malicious acts involving nuclear materials, other radioactive substances or their associated facilities".
State Enterprise National Nuclear Energy Generating Company "Energoatom", commonly known as just Energoatom, is a state enterprise operating all four nuclear power plants in Ukraine. It is the largest power producer in Ukraine.
The Onagawa Nuclear Power Plant is a nuclear power plant located on a 1,730,000 m2 site in Onagawa in the Oshika District and Ishinomaki city, Miyagi Prefecture, Japan. It is managed by the Tohoku Electric Power Company. It was the most quickly constructed nuclear power plant in the world.
Nuclear power has various environmental impacts, including the construction and operation of the plant, the nuclear fuel cycle, and the effects of nuclear accidents. Nuclear power plants do not burn fossil fuels and so do not directly emit carbon dioxide. The carbon dioxide emitted during mining, enrichment, fabrication and transport of fuel is small when compared with the carbon dioxide emitted by fossil fuels of similar energy yield, however, these plants still produce other environmentally damaging wastes. Nuclear energy and renewable energy have reduced environmental costs by decreasing CO2 emissions resulting from energy consumption.
The Civil Liability for Nuclear Damage Act, 2010 or Nuclear Liability Act is a highly debated and controversial Act which was passed by both houses of Indian parliament. The Act aims to provide a civil liability for nuclear damage and prompt compensation to the victims of a nuclear incident through a no-fault liability to the operator, appointment of Claims Commissioner, establishment of Nuclear Damage Claims Commission and for matters connected therewith or incidental thereto.
The United States Government Accountability Office reported more than 150 incidents from 2001 to 2006 of nuclear plants not performing within acceptable safety guidelines. According to a 2010 survey of energy accidents, there have been at least 56 accidents at nuclear reactors in the United States. The most serious of these was the Three Mile Island accident in 1979. Davis-Besse Nuclear Power Plant has been the source of two of the top five most dangerous nuclear incidents in the United States since 1979. Relatively few accidents have involved fatalities.
On 11 March 2011, a nuclear accident occurred at the Fukushima Daiichi Nuclear Power Plant in Ōkuma, Fukushima, Japan. The proximate cause of the disaster was the Tōhoku earthquake and tsunami, which remains the most powerful earthquake ever recorded in Japan. The earthquake triggered a powerful tsunami, with 13- to 14-meter-high waves damaging the nuclear power plant's emergency diesel generators, leading to a loss of electric power. The result was the most severe nuclear accident since the Chernobyl disaster in 1986, classified as level seven on the International Nuclear Event Scale (INES) after initially being classified as level five, and thus joining Chernobyl as the only other accident to receive such classification. While the 1957 explosion at the Mayak facility was the second worst by radioactivity released, the INES ranks incidents by impact on population, so Chernobyl and Fukushima rank higher than the 10,000 evacuated from the Mayak site in the rural southern Urals.
The Japanese reaction occurred after the Fukushima Daiichi nuclear disaster, following the 2011 Tōhoku earthquake and tsunami. A nuclear emergency was declared by the government of Japan on 11 March. Later Prime Minister Naoto Kan issued instructions that people within a 20 km (12 mi) zone around the Fukushima Daiichi nuclear plant must leave, and urged that those living between 20 km and 30 km from the site to stay indoors. The latter groups were also urged to evacuate on 25 March.
The Investigation Committee on the Accident at the Fukushima Nuclear Power Stations of Tokyo Electric Power Company was formed June 7, 2011 by the Japanese government as an independent body to investigate the March Fukushima Daiichi nuclear disaster. The Investigation Committee issued an interim report in December 2011, and issued its final report in July 2012.
National Diet of Japan Fukushima Nuclear Accident Independent Investigation Commission or NAIIC is the commission to investigate the background and cause of Fukushima Daiichi nuclear disaster formed by the statutory law enactment by Diet of Japan on 7 October 2011 and started with the first commissioning meeting was held in Fukushima City, Fukushima Prefecture. The commission is scheduled to issue the report in six months on investigation and to propose the policy to reduce and prevent future accident and reduce damage on the nuclear power plant in Japan.
A war exclusion clause or hostile acts exclusion is a common clause in insurance policies which excludes damage arising from a warlike act between sovereign or quasi-sovereign entities. Insurance companies typically won't cover damages caused by war because such an event could cause damage that would be likely to bankrupt them if they had to cover it.
