Government of India launched the Indian Nuclear Insurance Pool (INIP) under Civil Liability for Nuclear Damage (CLND) Act, 2010.
Enrich Your Learning:
Indian Nuclear Insurance Pool (INIP):
- General Insurance Corporation of India (GIC-Re), along with several other Indian Insurance Companies, launched the Indian Nuclear Insurance Pool (INIP) with a capacity of ?1500 crore to provide insuranceto cover the liability as prescribed under Civil Liability for Nuclear Damage (CLND) Act, 2010. (Government has created INIP in 2015).
- The poll has addressed issues related to Civil Liability for Nuclear Damage (CLND) Actand had facilitated commencement of work in setting up new nuclear power projects.
- New India Assurance issues the policyunder the pool and also deals with management of cover to the operators and suppliers, on behalf of all direct insurance companies participating in the pool.
Present nuclear power capacity:
- The nuclear power capacity at present is 6780 MW comprising of 22 reactors.
- There are 9 reactors with a capacity of 6700 MW under construction.
- On their completion, the installed nuclear capacity is expected to reach 8180 MW by 2020 and 22480 MW by 2031.