NRI Annual Review 2026 - Flipbook - Page 24
barriers to exploiting privileged access.
This convergence of insider and cyber
risk reinforces the need for an integrated
approach to physical security, personnel
assurance and cyber resilience.
Together, these developments are reshaping
how the industry must approach protection,
requiring a broader assessment of
operational, cyber and regulatory risks.
NRI’s cyber response to this
changing environment
This evolving threat environment was one of
the driving forces behind the development
of CyNuC, NRI’s specialist cyber insurance
product for nuclear operators. Designed
specifically to address malicious cyber acts
affecting nuclear operational technology,
CyNuC combines NRI’s expertise in nuclear
risk with specialist cyber capabilities from
across the wider insurance market.
This innovative product is tailored
specifically to cover physical damage to
nuclear power plants against malicious
attacks to operating technology and
includes business interruption, clean-up
costs, breach response and data
restoration costs.
Over the past year, conversations with
operators have revealed a growing
recognition that cyber risk cannot be entirely
eliminated, particularly as nuclear facilities
become more digitally connected.
As a result, operators are increasingly
focusing not only on preventing cyber
incidents, but also on strengthening their
ability to detect, respond to and recover
from attacks when they occur. This shift is
driving greater interest in specialist cyber
risk transfer solutions such as CyNuC.
24
NRI’s regulatory response to this
changing environment
Protection in the nuclear sector is also
evolving beyond operational and cyber
resilience. Regulatory changes are reshaping
how the industry approaches long-term
liability and financial protection.
One of the most significant developments
has been the extension of the bodily injury
prescription period under the revised Paris/
Brussels Conventions from 10 years to 30
years following an event. While this change
strengthened long-term protection for
the public, it also created a challenge for
insurers operating within more traditional
underwriting cycles, which have historically
been designed around shorter-term
risk exposures.
In response, NRI worked alongside its
members, actuarial partners and specialist
legal advisers to develop a new 30-year
liability solution aligned with the revised
Convention requirements. The product
helps close a long-standing gap in nuclear
liability coverage while reducing reliance on
government indemnities (the only former
solution available). Currently we already have
two operators using this product and on
cover in the UK. We are looking to expand it
out this year.
The changing market
For NRI, these developments reinforce
the importance of remaining adaptable
in a rapidly changing market. Protection
in the nuclear industry can no longer be
viewed purely through the lens of physical
safety or conventional insurance models.
It increasingly requires an integrated
understanding of technology, cybersecurity
and regulation, allowing for the creation of
the unique products that our clients require.
