Research Of Nuclear Risk Reinsurance Arrangement

Nuclear power is a double-edged sword,nuclear power station brings us clean energy as well as the possibility of catastrophic accidents.Nuclear power plant insurance is high risk,high sum insured,low risk frequency and complex underwriting technology.The potential catastrophic loss of nuclear power plant risk is difficult to estimate,and the consequences of nuclear risk can be decades.In addition,the number of nuclear power plants is limited and doesn't reach the insurance law of large numbers.Therefore,according to the general insurance market underwriting principle,nuclear risk is listed as excluded and no single insurer will provide such insurance services.With insufficient nuclear capacity,low compensation limit,and slow development of catastrophe insurance,to ensure that China's nuclear insurance meets the nuclear power industry's demand,and provide sustained,multi-level and high-quality insurance services for China's nuclear power customers is our study's focus.In order to prevent the nuclear catastrophe risk and realize the safe operation of nuclear power,we should establish and improve the operational nuclear risk insurance system.China should establish a nuclear insurance pool,actively exchange business with major international nuclear communities.To establish and improve the nuclear catastrophe insurance system and nuclear catastrophe reserve system,and implement a compulsory nuclear power plant third party liability insurance system.It is of great practical significance for promoting the sustainable and healthy development of China's nuclear power industry to give full play to the effectiveness of insurance in compensating economy,financing funds and managing society,especially the role of nuclear insurance in effectively dispersing and managing nuclear risks and maintaining social stability.To meet the requirements of the development of China's nuclear insurance market and strengthen the cooperation of domestic insurance companies in nuclear insurance business,been approved by the China Insurance Regulatory Commission,China Nuclear Insurance Pool(CNIP)was established on September 2,1999.It concentrated most domestic insurance companies' nuclear capacity,established a nuclear risk guarantee mechanism linked to the international nuclear community.After years of exploration and practice,China's nuclear power industry has made remarkable achievements.The development of the nuclear insurance industry is also progressing,the nuclear safety assurance system has been gradually established.