The nuclear exclusion clause is a clause An exclusion clause is a term in a contract that seeks to restrict the rights of the parties to the contract which excludes damages caused by Nuclear and radiation accidents This article covers notable accidents involving nuclear devices and radioactive materials. These accidents can hurt or kill almost anything that is around it while the accident is happening. In some cases, a release of radioactive contamination occurs, but in many cases the accident involves a sealed source or the release of radioactivity is small from regular insurance policies of, for example, home owners.
There is no nuclear exclusion clause in health insurance Health insurance like other forms of insurance is a form of collectivism by means of which people collectively pool their risk, in this case the risk of incurring medical expenses. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs. It may be provided through a government--policies. As operators of nuclear power plants often have limited third party liability Liability insurance is a part of the general insurance system of risk financing. Originally, individuals or companies that faced a common peril, formed a group and created a self-help fund out of which to pay compensation should any member incur loss. The modern system relies on dedicated carriers to offer protection against specified perils in, in the case of a large nuclear accident it is possible that private property damage will neither be covered by the operator of the nuclear power plant, or by the property owners' insurance.
- Example: Notwithstanding anything to the contrary herein, it is hereby understood and agreed that this policy shall not apply to any loss, damage or expense due to or arising out of, directly or indirectly, nuclear reaction, radiation or radioactive contamination regardless of how it was caused.
See also
- Terrorism insurance Terrorism insurance is insurance purchased by property owners to cover their potential losses and liabilities that might occur due to terrorist activities
- Contract adjustment board
- Public Law 85-804
- Price-Anderson Nuclear Industries Indemnity Act The Price-Anderson Nuclear Industries Indemnity Act is a United States federal law, first passed in 1957 and since renewed several times, which governs liability-related issues for all non-military nuclear facilities constructed in the United States before 2026. The main purpose of the Act is to partially indemnify the nuclear industry against
Categories: Insurance Categories: Risk | Security | Service industries | Financial economics | Financial institutions | Information, knowledge, and uncertainty | Risk in finance | Nuclear liability
