THE LEGISLATIVE DRAFTING RESEARCH FUND OF COLUMBIA UNIVERSITY FRANK P. GRAD, Director LAURIE R. ROCKETT, Associate Director R. ALTA CHARO, Associate Director MANDY VINCENT, Executive Secretary Financial Protection Under the Price-Anderson Act 1. Financial Protection Provided by Private Industry 3. Rationale of the Original Legislation B. Modifications in the Price-Anderson System, 1957-1983 D. Implementation of the Act by Industry and the AEC (a) The Pools .... (b) The Insurance Policies (c) Industry Credit Rating Plan (d) Nuclear Exclusions in Conventional Property and (e) Insurance Available to Non-Indemnified Com- (f) Operating Experience (g) The Accident at Three Mile Island and the Re- (h) Other Functions of the Insurance Industry 2. The Indemnity Agreements Footnotes for Chapter 2 Chapter 3: Financial Protection in the Absence of the Price-Anderson Act A. Theories of Liability .... 1. Tortious Operation or Conduct of an Activity (a) Negligence and Strict Liability (b) Trespass (c) Nuisance (d) Summary 2. Product Liability (a) Strict Liability (b) Warranty 41 41 42 42 45 46 47 48 48 49 50 (iv) Statutes of Limitations 2. Difficulties of Proof 3. Difficulties in Obtaining Satisfaction of Judgment C. Alternative Sources of Protection 1. The Insurance Market 2. Contractual Agreements 3. Separate Incorporation ... D. Financial Protection in the Absence of Price-Anderson: A 1. For the Industry 2. For the Public 53 57 58 58 60 61 61 61 62 64 Footnotes for Chapter 3 Chapter 4: Legislative Resolution: Fundamental Policy Issues and A. Issues to be Considered 1. The Relationship Between Allocation of Liability and 2. Government Influence on the Participation of Private B. Goals of the Legislation ... 1. Provision of Adequate Compensation 2. Spreading the Risk 3. Avoidance of Externalization 4. Avoidance of Undue Costs C. Summary Footnotes for Chapter 4 Chapter 5: Alternative Proposals A. Introduction ... B. Alternative Proposals 1. Extension of Existing Law 2. Proposals to Modify the Price-Anderson Act (a) Increasing the Level of Financial Protection (i) Elimination of the Limitation on Liability... 87 87 89 89 94 94 94 (ii) Imposition of an Annual Limitation on Liabil- 98 (iii) Increase in the Retrospective Premium As- 99 (iv) Miscellaneous Measures to Increase the Level 99 (b) Methods of Funding Increased Financial Protec- 101 (c) Changes in Substantive Law 102 (i) Adoption of a Probability of Causation Ap- 102 (ii) Elimination of the Concept of the ENO 103 tions 104 Footnotes for Chapter 5 105 |