
February 13, 2010 - Vermont's Yankee Nuclear Power Plant in Vernon, VT is leaking tritium into the groundwater including the Connecticut River. This obvious health and safety concern to humans and the environment is serious. However, this is not in any way a condemnation of nuclear facilities. On the contrary, nuclear facilities provide some of the cleanest, non-fossil fuel, clean energy available today. Since its conception to the present the US provides 15% of the world's nuclear electricity. France produces 77% of their electricity from nuclear plants. The Huffington Post reports that "Obama Nuclear Plant: President to Announce Loan Guarantee for More than $8 Billion.
More importantly; how are those harmed going to be made whole? How can a nuclear power plant, probably the most environmentally toxic and potentially catastrophic facility, possibly be insured if a regular real estate transaction with a REC cannot be insured?
President Dwight Eisenhower (D) signed into legislation the Price-Anderson Act providing "governmental insurance" above private commercial insurance after the first $10 billion from a collective pool of insurers.
The first layer of insurance for nukes comes from the private sector commercial insurance companies. Liability insurance is available up to $375 million from the American Nuclear Insurers.
Insurance covers a variety of environmental risk - from the most potentially catastrophic risk - nuclear - to the most mundane.