The $450 million figure in the NRC's December 30, 2016 rule refers to primary nuclear liability insurance. It does not describe the whole financial-protection system. The provision adds the amount available through a separate industry retrospective insurance plan, which finances secondary protection through deferred premium charges subject to specified limits. [2016-31368]

The primary requirement rose from $375 million on January 1, 2017. It applies to reactors licensed to operate that are designed for electricity production and have rated capacity of at least 100,000 electrical kilowatts. For this financial assessment, a co-located combination counts as one reactor if each unit is rated 100,000–300,000 electrical kilowatts and combined capacity does not exceed 1,300,000. [2016-31368]

The earlier figure has its own history. A final rule published April 2, 2010 increased primary coverage from $300 million to $375 million, with May 3 effectiveness. That document also specified primary plus secondary protection. Reading it beside the 2016 final rule shows an adjustment within an existing layered arrangement, rather than the creation of nuclear insurance in 2017. [2016-31368][2010-7394]

The trigger was available private insurance. The NRC said American Nuclear Insurers had notified it of increased capacity, and that statute required a corresponding adjustment. Both documents are NRC final rules; neither is an independent study of accident losses. For this January 2 historical account, the established change is the primary amount and its scope, not a finding that $450 million would cover every claim or be paid automatically. [2016-31368][2010-7394]

Source documents

  1. Increase in the Maximum Amount of Primary Nuclear Liability Insurancehttps://www.govinfo.gov/content/pkg/FR-2016-12-30/html/2016-31368.htm
  2. Increase in the Primary Nuclear Liability Insurance Premiumhttps://www.govinfo.gov/content/pkg/FR-2010-04-02/html/2010-7394.htm