OREANDA-NEWS. On 02 July 2009 was announced, that the Russian Nuclear Insurance Pool (RNIP) and OJSC Energoatom Concern signed a coinsurance contract for civil liability of a nuclear power facility operator.

Under the contract, the liability of the Concern is insured against nuclear damage to a third party as a result of a radiation accident caused by using nuclear power. The total insured amount is RUR 4.25 billion.

Nuclear power facilities are 31 power generating units of 10 Russian nuclear power plants comprising the Concern. Coinsurers under the contract are 19 Russian insurance companies (RNIP members). The coinsurance contract has been concluded for one year.

The coinsurance contract has been concluded in accordance with Russian law and the 1963 Vienna Convention on Civil Liability for Nuclear Damage.

According to Vadim Yanov, Chairman of the RNIP Supervisory Board, Chairman of the Management Board of SOGAZ Insurance Group, it is the first time that the risks of Energoatom Concern will be reinsured in eight foreign insurance pools: “The RNIP Supervisory Board decided that the self-retention limit of pool members under this contract will be RUR 3 billion. The other part of the Concern’s risks with a total limit of RUR 1.2 billion will be offered for reinsurance to the nuclear insurance pools of Ukraine, Belarus, China, France, Germany, the Czech Republic, Switzerland, and Bulgaria.”