As per the rules of Civil Liability for Nuclear Damage Act (CLND) the government of India has launched a Nuclear Insurance Pool with a sum of Rs. 1,500 crore to offset financial burden of foreign nuclear suppliers. This was announced by Minister of State in the Department of Atomic Energy Jitendra Singh in New Delhi. He said that several long pending projects like Gorakhpur Haryana Anu Vidyut Pariyojna (GHAVP) are now expected to move forward after setting up of the pool.

RK Sinha, Secretary in the Department of Atomic Energy, said this would be a solution for suppliers’ concerns about liability from nuclear risks. Under the Rs. 1,500-crore pool, set up by General Insurance Corporation of India (GIC Re) and 11 other non-life insurers including New India, Oriental Insurance, National Insurance and United India Insurance from the public sector apart from private insurance companies, policies offered will be a nuclear operators liability insurance policy and a nuclear suppliers’ special contingency (against right to recourse) insurance policy.

Mr. Singh, who is also the Minister of State in the Prime Minister’s Office, said the pool would help the government in achieving Prime Minister Narendra Modi’s “vision of tripling energy generation from nuclear sector in the next five years.”