COVER OF NUCLEAR FUEL ELEMENTS #
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to cover nuclear fuel elements according to the conditions outlined below.
- Definition
A fuel element consists of
- fuel material (fissionable, fertile, compounding and alloying material),
- fuel cladding
- support structure
- Period of Cover
This cover shall exist only for as long as the Policy is in force and shall commence following unloading at the site of the nuclear power plant and end with loading for off-site transport.
Within this period of cover the fuel elements shall be insured
- during operation only as long as they are outside the reactor pressure vessel;
- during refueling at shut-down reactor also at all operations in connection with loading, unloading and shuffling.
- Indemnification
In the case of loss or damage, all the expenses for the repair of the material loss or damage after applying the deductible shall be indemnified. These expenses include for instance :
- costs of extracting the fuel from the damaged fuel elements, and of its inspection and storage;
- costs of repairing or replacing the fuel cladding and the support structure;
- costs of reprocessing damaged fuel material;
- costs of replacing lost or damaged fuel material;
- costs of the assembly of fuel material, fuel cladding and support structure to form fuel elements;
- transportation and insurance charges, including costs of obtaining the necessary import and transport permits;
The indemnification for any one damaged fuel element shall be limited as follows :
- New fuel elements : Replacement cost, but not more than the purchase price of such fuel element, ………………………….
- Irradiated fuel elements : Actual value, ie purchase price minus depreciation in the ratio of effected to designed burn-up
- Spent fuel element : Disposal cost exceeding the off-site transport cost necessary in any case. Maximum …………………………………
But in no case shall the total annual indemnification be more than ……………………
- Deductible any one loss
- The premium for this extra cover shall be ……….% p.a. applied to the actual value of the fuel elements at the beginning of each insurance period.
The actual value of the fuel element at the beginning of the individual insurance period is :
Date Fuel Weight (t) Actual Value
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