Nuclear: State guarantee granted to CCR

As provided for in the PLF 2022, an order has just granted CCR the State guarantee for the reinsurance of risks in the field of nuclear energy.

An order dated June 15, 2022 has just granted the State guarantee to the Caisse centrale de réassurance (CCR) for the reinsurance of risks covered by insurance or financial guarantee in the field of nuclear energy.

“This guarantee is exercised within the limit of a ceiling of 700 million euros per nuclear installation, within the meaning of article L. 597-2 of the environment code, and per nuclear accident. In the event of transport of nuclear substances, the amount of this guarantee rises, for transport carried out on the territory of the French Republic, to 80 million euros per nuclear accident and, for international transport, to the amount fixed by the ‘State of dispatch, destination or transit of these substances, within the limit of a ceiling of 700 million euros per nuclear accident’can we read in the decree.

This measure – provided for in the last PLF – specifies that the State guarantee is remunerated and covers for each reinsurance transaction the risks partially or totally ceded to CCR, “provided that the said ceded risks do not exceed more than 60% of the total risk covered by the insurance or the financial guarantee pursuant to article L. 597-7 of the environment code”.

The terms and conditions of the implementation of the State guarantee are the subject of an agreement between the Minister for the Economy, Finance and Industrial and Digital Sovereignty and the Chief Executive Officer of Caisse reinsurance centre.

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