30 Mar '12, 11am

Press Release: #Nuclear third party liabilities to be increased sevenfold

The Government today confirmed its intention to substantially increase the third party liabilities of operators in the event of a nuclear incident. This follows a public consultation held last year on the UK’s proposals to implement changes made to an international treaty on nuclear third party liability – the Paris and Brussels Conventions, to which the UK and most of the other EU countries are signatories. Currently, operator liability is limited to £140m per incident. The UK is increasing this to €1.2bn, to ensure that more compensation will be available to a larger number of claimants in respect of a broader range of damage. This €1.2bn is €500 million more than the minimum necessary under the revised Conventions. The new level will be phased in over five years starting at €700 million when the new regime comes into force and increased annually by €100 million. The cha...

Full article: http://www.decc.gov.uk/en/content/cms/news/pn12_036/pn12_...

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