NRI Annual Review 2025 - Flipbook - Page 11
By Simon Wilcock,
Construction Development
and Senior Underwriter, NRI
With over 60 reactors under
construction across the globe
and hundreds more proposed
the pace of nuclear construction
is growing. As we navigate through
this growth, it is evident that the
industry is continuously innovating,
driven by advancements in
technology and a heightened
focus on clean energy solutions.
At Nuclear Risk Insurers, we remain
at the forefront of this with our
construction facility —specialised
to mid-sized nuclear projects
Our new construction facility is
a testament and reflection of
NRI’s commitment to supporting
the burgeoning field of nuclear
construction. Specialising in midsized nuclear projects such as
SMRs or AMRs, we ensure seamless
integration and support from the
early stages of projects through to
completion. Our facility is designed
to offer comprehensive coverage that
addresses all facets of construction risk,
including the entire nuclear fuel cycle,
waste handling, medical isotopes, and
refurbishment projects.
“We have tailored our solutions
to support the entire lifecycle of
construction projects,” emphasises
Manuela Baroncini, Global Head of
Engineering and Construction at Swiss
Re Corporate Solutions. “Our focus is
on delivering a seamless transition
from construction, within the facility, to
operation provided by NRI, providing
crucial support in risk management
across diverse project demands.”
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Our focus is on delivering
a seamless transition
from construction, within
the facility, to operation
provided by NRI,
providing crucial
support in risk
management across
diverse project demands
Manuela Baroncini
Global Head of Engineering and Construction at
Swiss Re Corporate Solutions
Capabilities and
collaborative expertise
The construction facility leverages
technical support on any nuclear
construction risk, with a construction
capacity of USD 400 million on a
Maximum Probable Loss basis for
project periods up to 60 months,
plus a defect liability period. We
provide nuclear property and thirdparty liability cover via NRI’s existing
Insurance Pool, allowing us to offer
tailored solutions that enhance risk
management and mitigation for
nuclear construction activities.
In collaboration with Swiss Re
Corporate Solutions and SCOR,
and supported by Lloyd’s Capacity,
specialist Loss Adjusters, and
independent experts, we are equipped
to professionally manage and settle
claims expeditiously in the event of
an insurable loss. This holistic
approach ensures robust coverage
and financial stability through licensed
and well-rated domestic insurers and
global reinsurers.
