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
Amount of the insurance company's liabilities for claims that have not been settled. If this reserve increases significantly in relation to the company's surplus, the risk is greater for ...
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Recipient of an indemnity. Indemnitor provider of an indemnity payment. ...
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Time period in health insurance that must elapse between a previous illness and a current one, if the current one is to be considered a separate illness eligible for a new set of benefits. ...
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