NEL-PIA: insurance for the nuclear industry. [Nuclear Energy Liability-Property Insurance Association]
NEL-PIA (Nuclear Energy Liability-Property Insurance Association) is a voluntary, unincorporated association of insurance companies formed for the purpose of accumulating the capacity required to provide property and liability insurance protection at a fair price to the nuclear energy industry and at a reasonable profit to its participating companies. It provides a broad range of engineering services to its customers in the areas of loss prevention, risk evaluation, and quality assurance; acts promptly and equitably to settle losses and adjust claims, engages in nuclear energy safety standards development; cedes and accepts reinsurance in the worldwide nuclear energy insurance market; maintains liaison with governmental agencies, trade associations, and other organizations associated with the nuclear energy industry; supports the concept of nuclear energy as a viable source of electric power; maintains a responsive attitude and meaningful liaison with its customers and producers; and is guided in its decisions and actions by a long range point of view. The NEL-PIA was formed in 1974 through the merger of the Nuclear Energy Liability Insurance Association and the Nuclear Energy Property Insurance Association, both of which started writing insurance in 1957. NEL-PIA works closely with the Mutual Atomic Energy Reinsurance Pool and the Mutual Atomic Energy Liability Underwriters, who, as of January 1976, have the capability of providing up to $300 million for a single risk. More than 45 percent (in 1975) was reinsured overseas by foreign nuclear insurance pools, by individual reinsurers, and reinsurance syndicates. Operations, management, and the future of the NEL-PIA are summarized. (MCW)
- OSTI ID:
- 7269648
- Country of Publication:
- United States
- Language:
- English
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ACCIDENTS
FORECASTING
GOVERNMENT POLICIES
INDUSTRY
INSURANCE
INVESTMENT
LIABILITIES
MANAGEMENT
NUCLEAR INDUSTRY
NUCLEAR INSURANCE
OPERATION
ORGANIZING
PROFITS
SAFETY