China Nuclear Insurance Pool (CNIP) is an insurance platform authorized by China insurance regulator. Now all the nuclear power plants in Mainland China are insured by CNIP.
China Nuclear Insurance Pool has 29 member companies. And the total market share of member companies of CNIP takes more than 90% of Chinese P&C insurance market. The member companies have all signed a Pool Membership agreement and have thus delegated their authority to China Nuclear Insurance Pool Executive Office. The member companies' liability is limited to a prescribed amount and all premiums received are remitted to the member companies.
China Nuclear Insurance Pool provides cover for nuclear risks in respect of public liability, material damage and employers liability. New nuclear power plant under construction is not covered until it becomes ‘nuclear’, upon the delivery of nuclear fuel to the site or loading of fuel into a reactor.
China Nuclear Insurance Pool seeks to support the China and global nuclear industry.