Written question asked by Llew Smith (Labour) on Tuesday, 1 February 2000, in the House of Commons. It was due for an answer on Monday, 7 February 2000. It was answered by Baroness Liddell of Coatdyke (Labour) on Monday, 7 February 2000 on behalf of the Department of Trade and Industry.

Dept of Trade and Industry

Question: To ask the Secretary of State for Trade and Industry, what is the size of the insurance liability fund set aside to underwrite accidents at United Kingdom nuclear facilities; what authority manages the fund; and if any part of the fund is invested. - Including figures.

Answer: Mr. Llew Smith: To ask the Secretary of State for Trade and Industry what is the size of the insurance liability fund set aside to underwrite accidents at United Kingdom nuclear facilities; what authority manages the fund; and if any part of the fund is invested. [108681] Mrs. Liddell: Under the Nuclear Installations Act, the operators of nuclear facilities in the UK are required to hold third party liability insurance to cover up to £140 million of damage resulting from accidents in nuclear installations. In the event of a severe nuclear accident in the UK, supplementary compensation would be made available in addition to this under the Brussels Convention Supplementary to the Paris Convention, providing an amount of compensation totalling £300 million Special Drawing Rights of the IMF. We are currently considering substantial increases in the amount of compensation available under the Act. Insurance arrangements must be approved by the Secretary of State; operators without a Government indemnity purchase insurance from private sector insurers.

Secondary information