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Monday, April 2, 2012

Insurance on Nuke---$12B in entire United States What a Joke.

CaptD found this one

The aggregate insurance on EVERY SINGLE nuke plant is around$12B

If 4 reactors melted down, there would be $12B total!     And after that the taxpayer is on the hook for everything!

Under existing policy, owners of nuclear power plants pay a premium each year for $375 million in private insurance for offsite liability coverage for each reactor unit. This primary or first tier, insurance is supplemented by a second tier. In the event a nuclear accident, causes damages in excess of $375 million, each licensee would be assessed a prorated share of the excess up to $111.9 million. With 104 reactors currently licensed to operate, this secondary tier of funds contains about $11.6 billion. If 15 percent of these funds are expended, prioritization of the remaining amount would be left to a federal district court. If the second tier is depleted, Congress is committed to determine whether additional disaster relief is required.

What a crock of shit this nuke business is

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