Nuclear Electric Insurance Limited
| Industry | Mutual insurance |
|---|---|
| Founded | 1980 |
| Headquarters | Wilmington, Delaware, United States |
| Website |
www |
Nuclear Electric Insurance Limited (NEIL) is a mutual insurance company which insures all nuclear power plants in the United States as well as some facilities internationally. The company is based in Wilmington, Delaware, and is registered in Bermuda.[1]
It was founded in 1980 in response to the 1979 Three Mile Island accident.[2] In 1997 NEIL merged with Nuclear Mutual Limited, of Bermuda.[1]
In December 2012, the Tampa Bay Times reported that Progress Energy's ongoing problems with its Crystal River nuclear plant may cost NEIL $5 billion, the largest claim in its history, for which the company only had $3.6 billion available for claims. The additional funds needed for claims would come from NEIL's member companies, which would in turn pass on the expenses to its customers.[2]
See also
- Oil Insurance Limited—mutual insurance company serving the petroleum industry
References
- ↑ 1.0 1.1 "NEIL History". Nuclear Electric Insurance Limited. Retrieved December 30, 2012.
- ↑ 2.0 2.1 Penn, Ivan (December 30, 2012). "Utilities nationwide could share the financial pain of the idled Crystal River nuclear plant". Tampa Bay Times. Retrieved December 30, 2012.