Nuclear Liability Insurance and Its Coverage

Various kinds of recoverable damages and the method by which the mentioned damages could be recovered are among the issues that have been addressed by the conventions on nuclear liability. The provision of financial guarantees, as one of the principles of nuclear civil liability, is regarded as the most important loss compensation method. The worldwide acceptance of insurance has led to the approval of relevant rules in the conventions. Insurance only covers damages which have been enumerated in the related conventions. Bodily and financial damages under the preceding conventions and new titles of nuclear damages such as lucrum interceptum and pure economic losses under the contemporary conventions have been stated as recoverable. It appears that pure economic losses are recoverable through the generalities of tort rules such as La’Zarar, according to the Iranian law. Nuclear installations operators have limited liability under conventions or domestic laws; however, Iran’s law has no specific provisions regarding the civil liability arising from nuclear accidents and is not a signatory to any of the conventions as well; thus, general principles of liability could be invoked, that of course based on which the liability is unlimited; therefore, formulation of a particular law or membership in the pertinent conventions is essential in order for exploiting insurance facilities.