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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of August 20, 2003 No. 1307

About approval of the Procedure for calculation of rates in case of obligatory civil liability insurance for nuclear damage

In pursuance of Item 5 of the Section V "Final provisions" of the Law of Ukraine "About the civil responsibility for nuclear damage and its financial provision" the Cabinet of Ministers of Ukraine decides:

1. Approve the Procedure for calculation of rates in case of obligatory civil liability insurance for nuclear damage which is applied.

2. Determine that the maximum size of annual insurance rate for providing financial covering of the civil responsibility of the operator of nuclear installation for nuclear damage constitutes 3,38 of percent of insurance sum, and for the operator of nuclear installation of rather Chernobyl nuclear power plant - 0,125 of percent of insurance sum.

3. This resolution becomes effective from the date of publication.

Approved by the resolution of the Cabinet of Ministers of Ukraine of August 20, 2003, No. 1307

Procedure for calculation of rates in case of obligatory civil liability insurance for nuclear damage

1. This Procedure determines the mechanism of calculation of rates in case of obligatory civil liability insurance of the operator of nuclear installation for nuclear damage (further - rates).

2. Calculation of rates is carried out based on results:

assessment of damage caused to health of person owing to nuclear incident;

damage estimates for causing death owing to nuclear incident;

assessment of damage caused to property of person owing to nuclear incident;

the probabilistic analysis of severe accident on the power unit of nuclear power plant taking into account the protective allowance accepted in case of civil responsibility insurance for nuclear damage.

3. Calculation insurance net - rate is conducted on formula

where And - damage assessment indicator for causing death, and also to health and property of person owing to nuclear incident;

In - insurance sum according to the legislation (150 million, and for research reactors of 5 million special drawing rights);

Р - the maximum probability of loss occurrence (taking into account the protective allowance).

4. Calculation insurance gross - rate is conducted on formula

where f - loading coefficient which equals 0,2.

5. Calculation of the maximum annual rate is conducted on formula

where With - the number of nuclear installations.

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