Price-anderson Act
Definition of "Price-anderson act"
1957 federal law setting a limit on the liability of operators of nuclear facilities. The law, an amendment to the Atomic Energy Act of 1954, authorized establishment of private insurance pools to provide liability insurance for nuclear facilities, giving the Atomic Energy Commission (now the nuclear regulatory commission) authority to sell additional insurance in excess of the amount of pool coverage available. See also mutual atomic energy reinsurance pool; nuclear energy liability insurance.
Popular Insurance Terms
Specialist whose task is to place insurance with the specialized syndicates that underwrite particular risks at Lloyd's of London. ...
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Amount subtracted from an annuity or from mutual fund proceeds payable to an annuity owner or mutual fund owner to reflect expense fees described in the annuity contract or mutual fund ...
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Formula for a given line of insurance used by property and casualty insurance companies to compare losses and loss adjustment expense with premiums. This shows the amount of each premium ...
Demand without foundation, such as a claim submitted to an insurance company by an insured who caused a loss, or for a loss that never occurred. ...
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