Through the Nuclear Insurance Association of Canada, Multiple Insurers Work Together to Provide Liability and Property Protection for Operators of Nuclear Power Stations

With nuclear liability and property claim limits expected to increase dramatically in Canada, NIAC's work in domestic nuclear liability policy, claims management, and good governance is more important than ever for safe, sustainable and dependable energy. NIAC General Manager Colleen DeMerchant talks about how the Association provides innovative insurance risk management, underwriting, inspections, and research in a changing regulatory landscape.

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With the assistance of the world’s leading international nuclear insurers, NIAC members provide the property and liability insurance required by nuclear facilities in Canada.

Toronto, Ontario (PRWEB) May 07, 2014

A pioneer in the nuclear insurance business since 1958, the Nuclear Insurance Association of Canada (NIAC) is an association of Canadian property and casualty insurers approved by the federal government to insure nuclear risks in Canada. Through a best-practice risk pooling mechanism and with the assistance of the world’s leading international nuclear insurers, NIAC members provide the property and liability insurance required by nuclear facilities in Canada.

NIAC specialists assess and inspect nuclear facilities in Canada on behalf of NIAC members and the world’s leading nuclear insurers.

“Recent events and the anticipated increases in claim limits present new and unique challenges. By applying fundamental insurance principles and risk management practices to account for the risks inherent in the nuclear industry, we can will build a liability and compensation regime to respond to this need for more insurance,” explains NIAC General Manager Colleen DeMerchant. Nuclear power is a reality and will continue to play an increasing role in the future energy mix in Canada and around the world. Accordingly, providing solutions for nuclear risk is an important role for the property/casualty insurance industry.

The association’s long history of specialization in the complex and closely regulated nuclear power industry makes NIAC a widely recognized authority internationally as well as a trusted subject matter and business expert domestically. The association is run by a committee made up of member Canadian insurers and reinsurers, with day-to-day operations being carried out by Ms. De Merchant and her team.

For more information, please contact:

Colleen DeMerchant - General Manager
Nuclear Insurance Association of Canada
416-529-9656
colleen(at)niacfobiz

Established in 1958, NIAC is a voluntary, non-profit, unincorporated association of insurers providing property and liability insurance to nuclear installations operating in Canada. With members who include insurers, reinsurers and Lloyd’s Underwriters licensed in Canada, we specialize in high quality insurance, risk management, underwriting and inspections for Canadian nuclear exposures.


Contact

  • Colleen DeMerchant
    Nuclear Insurance Association of Canada
    +1 416-529-9656
    Email

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