NRI Annual Review 2026 - Flipbook - Page 28
move the project forward, but because
they demonstrate the importance of the
wider frameworks that sit around nuclear
development.
For the nuclear supply chain, progress
depends on long-term legal certainty,
reliable risk transfer and clear arrangements
for nuclear liability. This creates a need for
practical guidance on how risk, liability and
potential future pool participation should be
handled as the market grows.
NRI and the Nuclear Pools have played
an active role in Poland by sharing
expertise and providing practical insights
into the operation of the international
nuclear insurance pooling system thereby
supporting the development of a robust
nuclear insurance market in Poland.
NRI’s support helps build confidence
that the country’s nuclear programme is
underpinned by a mature, reliable, and
collaborative insurance framework. A
nuclear insurance pool, backed by around a
dozen domestic insurers, is expected to be
established by the end of 2026.
The key short-term priority is accession
to the Convention on Supplementary
Compensation for Nuclear Damage (CSC).
Poland already has nuclear liability treaty
relationships through the Vienna and Paris
frameworks, but not yet with key supplier
states including the US, Canada and Japan.
Resolving the liability issues would help
support commercial decision making and
align Poland’s programme more closely with
the global nuclear liability system. At the
same time, revisions to the nuclear thirdparty liability and insurance frameworks
are under way, with the aim of improving
investment conditions and the insurability of
nuclear projects while ensuring an adequate
level of public protection.
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India: scale, self-suf昀椀ciency and
market opening
India’s nuclear market is entering a period
of significant change. The country has set a
target of 100GW of nuclear capacity by 2047
- from a current capacity of 9.3GW - as part
of its wider ambitions of economic growth.
This ambition to bring online ~90GW of
capacity in just 20 years means that India
needs to move beyond its historic model, in
which the nuclear industry has been owned
and operated by the state. That model has
helped India build a strong indigenous
nuclear capability, but it has also meant
that its regulatory and liability framework
has evolved differently from the wider
international nuclear market.
The near-term priorities for the Indian
Nuclear sector, therefore, is focussed on
market readiness. It needs a framework
that can support wider participation from
different actors. The SHANTI Act (2025) and
accompanying Rules and Regulations are
central to this shift - it removes a number
of provisions that had discouraged nonIndian and international participation in the
nuclear sector, including the way nuclear
liability insurance is managed elsewhere
in the world.
This matters because India’s 100GW
ambition will require international providers,
new domestic participants, lenders,
suppliers and insurers to have confidence
that nuclear risks can be understood,
allocated and managed in a way that is
consistent with global practice.
Insurance is a key part of that transition.
NRI’s immediate role is to support the
integration of the Indian Nuclear Insurance
pool into the global system, enhancing the
Indian system and increasing the appetite
of commercial investors and financiers.
