[pib] Indian Nuclear Insurance Pool

Mains Paper 3 : Infrastructure: Energy, Ports, Roads, Airports, Railways Etc. |

Note4Students

From UPSC perspective, the following things are important :

Prelims level : Nuclear Insurance Pool

Mains level : Protective measures against nuclear hazards


News

  • The Government has created an Indian Nuclear Insurance Pool (INIP) in June 2015, a union minister informed in Lok Sabha.

Indian Nuclear Insurance Pool

  • M/s. General Insurance Corporation of India (GIC-Re), along with several other Indian Insurance Companies, have launched the Indian Nuclear Insurance Pool (INIP) with a capacity of ₹1500 crore.
  • This aims to provide insurance to cover the liability against accidents as prescribed under Civil Liability for Nuclear Damage (CLND) Act, 2010.
  • This has addressed issues related to Civil Liability for Nuclear Damage (CLND) Act and had facilitated commencement of work in setting up new nuclear power projects.

Back2Basics

Nuclear Power in India

  • The present nuclear power capacity is 6780 MW comprising of 22 reactors.
  • There are 9 reactors with a capacity of 6700 MW (including 500 MW PFBR being implemented by BHAVINI) under construction.
  • The Government in 2017 has also accorded administrative approval and financial sanction of 12 nuclear power plants totaling to a capacity of 9000 MW.
  • On their progressive completion, the installed nuclear capacity is expected to reach 8180 MW by 2020 and 22480 MW by 2031.
Nuclear Energy
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