India's Nuclear Liability Third Highest in the World
Date: Wednesday , September 01, 2010
Indiaís legal nuclear liability limit is the third highest in the world. At a $439 million limit, it follows the United States at $12,590 million and the Republic of Korea and the United Kingdom, which cap the liability at close to $452 million each.
According to a survey by the Confederation of Indian Industry (CII), China ranks fourth in nuclear liability at $162 million. The findings also reported that Russia did not specify any amount whereas Germany and Japan have an unspecified amount.
The comparative study was carried out on nine parameters: Nuclear liability law, strict liability, channeling of liability exclusively to operator, right of recourse against supplier, operatorís insurance amount, state guarantee/cover, additional state compensation, supplementary amount from international fund and legal liability limit.
India comes third in the operatorís insurance amount too, with a $320 million limit.
U.S. again tops the list with $12,500 million. While Germany is slightly ahead of India at $324 million, UK follows India with $216 million. France has an operator insurance amount of $115.2 million.
The 10-nation survey found that all major nations of the world like France, Germany, Korea and Russia had their nuclear liability act in place.
None of the countries had the right to recourse against the supplier. Only India had the right to recourse in case of defect or fault in equipment or services. India also had more than $300 million as state guarantee but did not have the provision so far for additional state compensation.