Ten Fundamentals of Effective Nuclear Liability Claims Management
Third party liability claims are a sleeping giant of the risk management world. However, if your business purchases liability insurance, or has a captive, could it suddenly cope with the daunting reality of thousands of calls from distressed victims, requirements to turn compensation claims around in days, and unforeseen government intervention? In a world where the answer is often "that's what I buy insurance for", resilient claims management plans are vital to mitigating the risk and uncertainty of a major incident.
In the nuclear insurance industry, where major incidents are low frequency and high severity, the colossal scale of a potential nuclear event underscores why effective planning is paramount.
With geographical, regulatory, and political environments for each nuclear country and/or operator being unique, it is important that claims plans for each situation are bespoke — but there are key guidelines that can be followed to optimise resilient planning.
Marsh's insight report looks at the 10 fundamentals of nuclear claims handling, whether you are an operator, insurer/pool, claims professional/third party authority/adjuster, or government, addressing these fundamentals is essential to taking ownership of liability claims management and to helping you structure your organisations plans.
The report looks at:
- Integrated approaches to response and communication plans.
- Scenario stress-testing and limits of liability.
- Innovation and technology and the future legislative landscape.
For more information on nuclear liability claims management planning, download this report.