PRICE-ANDERSON ACT FRAMEWORK
September 2, 1957?
When was Section 170 of the Atomic Energy Act of 1954, otherwise known as The Price-Anderson Act enacted?
10 CFR Part 140
What section of NRC regulations implement the provisions of the Price-Anderson Act?
10 CFR Part 140.11(a)(4)
What NRC regulation contains the amounts for secondary/deferred premiums?
The NRC enters into this agreement with a licensee who is subject to the provisions of Price-Anderson
What is an indemnity agreement?
The number of reactors currently participating in the retrospective (deferred) premium pool
What is 95?
The Price-Anderson Act was enacted to meet these two basic objectives
What is assure adequate funds are available to the public to satisfy liability claims if a catastrophic nuclear incident were to occur?
AND
What is remove deterrent to private sector participation in atomic energy?
$500 million
What is the maximum amount of primary insurance for nuclear liability policies?
The NRC performs this adjustment at least once during each 5-year period
What are inflation adjustments to the maximum total and annual standard deferred premiums?
The master file for each indemnity agreement can be found here
What is "NRC Indemnification Agreement Files" in the Main Library of ADAMS?
The largest nuclear incident to occur in the United States
What is TMI-2?
December 9, 2021
When was the last Price-Anderson Report to Congress issued?
January 1, 2024
When was the last increase to the maximum amount of primary nuclear liability?
October 5, 2023
When was the last inflation adjustment made to the maximum total and annual standard deferred premiums?
We amend the indemnity agreement when this type of license transfer occurs
What is a direct license transfer?
December 31, 2065
When was the Price-Anderson Act extended to?
The Price-Anderson Act applies to these types of reactors
What are:
1) large commercial nuclear power reactors
2) reactors under 100 MW(e)
3) plutonium processing and fuel fabrication facilities
This joint underwriting association writes nuclear liability for nuclear facilities in the United States
Who is American Nuclear Insurers (ANI)?
$24,714,000
What is the maximum amount of annual deferred premiums?
When a licensee goes into decommissioning status and requests an exemption from financial protection, we perform these two amendments to their indemnity agreement
What is a reduction from $500 million to $100 for primary liability insurance?
AND
Withdraw from participation in the deferred premium pool?
One page document available to the public that provides a high level overview of Price-Anderson
What is the OPA Backgrounder on Nuclear Insurance and Indemnity?
The Price-Anderson framework is made up of these three tiers
What is the primary (private insurance for offsite liability); secondary (retrospective premium pool); and pro rata (5 percent surcharge assessed to each licensee if both primary and secondary tiers depleted)?
$100 million
What is the exempted amount of primary offsite liability insurance for a reactor in decommissioning?
$158,026,000
What is the maximum amount of total deferred premiums?
ANI provides this letter to a prospective licensee that is required by the NRC prior to a license transfer being made effective
What is a letter of insurability?
$560 million
What was the original limit of a licensee's public liability for any single nuclear incident?