Insurance Europe, the European insurance and reinsurance federation, represents insurance and reinsurance undertakings through its 34 members, the national insurance associations. As representative of 95% of the total European premium income, Insurance Europe welcomes this opportunity to provide comments in the context of the European Commission’s current consultation on nuclear liability and insurance in the European Union.
Insurance plays an important role in transferring nuclear liability risks and ensuring compensation through the swift handling of claims, in which the insurance industry is uniquely skilled and experienced. However, it should be noted that insurance cannot provide unlimited cover or cover for all risks, particularly as the premium for such cover is incalculable and adequate cover for the payment of “unlimited” claims cannot be assessed. Insurance Europe thus would like to raise the following points.