Updating international nuclear law
Re-evaluation of domestic energy policy resulted in diversification and in particular, a major nuclear construction program.A high priority was given to reducing the country's dependence on oil imports.Amid volatile energy costs, the accompanying push to expand nuclear energy, growing concerns about the environmental impact of fossil fuels, and the continued diffusion of scientific and technical knowledge, access to dual-use technologies seems destined to grow. president Barack Obama reignited global nonproliferation efforts through a landmark speech in Prague.In the background, a nascent global consensus regarding the need for substantial nuclear arms reductions, if not complete nuclear disarmament, has increasingly taken shape. Subsequently, in September of the same year, the UN Security Council (UNSC) unanimously passed Resolution 1887, which called for accelerated efforts toward total nuclear disarmament.Apart from Three Mile Island, the claim experience has been very good. Significantly, because Chernobyl was of a design that would not have been an acceptable risk at the time, notably the lack of a containment structure, the accident had no impact on premium rates for Western plants.The structure of insurance of nuclear installations is different from ordinary industrial risks.The Iran News Update provides information and perspectives about events in the region that affect businesses and other institutions globally.This page will be updated as events unfold, and we encourage you to visit often.
Overall, the existing global nonproliferation regime is a highly developed example of international law.Insurance (direct damage and third party civil liability insurance) is placed with either one of the many national insurance pools which brings together insurance capacity for nuclear risks from the domestic insurers in the local country, or into one of the mutual insurance associations such as Nuclear Electric Insurance Limited (NEIL) or Overseas NEIL based in USA or EMANI and ELINI based in Europe*. Third Party liability involves international conventions, national legislation channelling liability to the operators, and pooling of insurance capacity in more than twenty countries.The national nuclear insurance pool approach was particularly developed in the UK in 1956 as a way of marshalling insurance capacity for the possibility of serious accidents.In fact, wherever they are available to private sector insurers, Western-designed nuclear installations are sought-after business because of their high engineering and risk management standards.This has been the case for 50 years." He elaborated: "My comment refers very much to the world scene and is not contentious.