Farmers, food processors and distributors could face serious financial losses following a radiological emergency. However, federal law ensures that such losses will be reimbursed. The Price-Anderson Act, enacted by Congress in 1957, requires that the operators of nuclear power plants and certain other nuclear facilities purchase nuclear liability insurance policies for the protection of the public. As a result, no-fault insurance pools are in place to pay claims promptly without lengthy court hearings. Claimants need only prove that the injury or property damage resulted from the radiological emergency.
Commercial insurance policies exclude coverage for nuclear accidents because Price-Anderson’s provisions make such coverage unnecessary.