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
Determination that investments by parents in their children's education through the purchase of Series EE Savings Bonds, which generate interest income, are tax-exempt if the proceeds are ...
Nonparticipating life insurance under which the first few annual premiums are smaller than would be the case under a traditional nonparticipating policy. While the maximum amount of these ...
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Payments due to an insurance company but not yet paid. ...
Coverage in which premiums are collected monthly on an ordinary life insurance policy. ...
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Right to insurable interest in property such as the right of a secured creditor in the property pledged as security. ...
Protection in the event of accidental discharge, leakage, or overflow of water from plumbing systems, heating, air conditioning, and refrigerating systems, and rain or snow through broken ...
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