ML17342B232
| ML17342B232 | |
| Person / Time | |
|---|---|
| Site: | Turkey Point  |
| Issue date: | 03/21/1988 |
| From: | Buckles J MARSH & MCLENNAN, INC. |
| To: | Dinitz I Office of Nuclear Reactor Regulation |
| References | |
| NUDOCS 8803310258 | |
| Download: ML17342B232 (45) | |
Text
.A -r 1t ACCELEMTED DISFRIBUTION SEMONSTRATION SYSTEM REGULATORY INFORMATION DISTRIBUTION SYSTEM (RIDS)
DOCKET 05000250 05000251
SUBJECT:
Forwards Endorsements 1,2
& 3 to MAELU Policy MW-29 NELIA Policy NW-93.
DISTRIBUTION CODE:
M001D COPIES RECEIVED:LTR l
ENCL
(
SIZE:
TITLE: Insurance:
Indemnity/Endorsement Agreements NOTES ACCESSION NBR:8803310258 DOC.DATE: 88/03/21 NOTARIZED: NO FACIL:50-250 Turkey Point Plant, Unit 3, Florida Power and Light C 50-251 Turkey Point Plant, Unit 4, Florida Power and Light C AUTH.NAME AUTHOR AFFILIATION BUCKLES,J.A.
Marsh
& McLennan, Inc.
RECIP.NAME RECIPIENT AFFILIATION DINITZ,I.
Office of Nuclear Reactor Regulation, Director (Post 870411 RECIPIENT ID CODE/NAME INTERNAL: NRR/PMAS/PTSB12 EXTERNAL: LPDR COPIES LTTR ENCL 1
1 1
1 REG FILE NRC PDR 01 RECIPIENT ID CODE/NAME COPIES LTTR ENCL 1
1 1
1 8
A j
'A TOTAL NUMBER OF COPXES REQUIRED:
LTTR 4
ENCL 4
s
M &M Nuclear Consultants 222 South Riverside Plaza Chicago, Illinois60606 Telephone 312 648.6603 March 21, 1988 Nr. Ira 'Dinitz Director Office of Nuclear Reactor Regulation Mail Stop 12E4 U. S. Nuclear Regulatory Commission Washington, D.C.
20555 Joseph A. Buckles Vice President RE:
Dear Ira:
FLORIDA POWER
& LIGHT COMPANY NUCLEAR LIABILITYINSURANCE On behalf of Florida Power
& Light Company, I
am enclosing certified copies of the following nuclear liability insur-ance policy documents:
Station Turkey Point NW-29 NW-93 1
2 3
1 2
3 Certificate No.
Endorsement No.
Please contact me if you have any questions.
JB/sp Enc.
cc:
Nr. S.
Reynolds - Florida Power
& Light Company Mr.
W. A. Wegener - N&M Chicago SS0331025S SS032i PDR ADOCK 05000250
,J DCD nY'
0 4
MUTUAL ATOMIC ENERGY LIABILITYUNDERWRITERS NUCLEAR ENERGY LIABILITYPOLICY (Facility Worker Form) herein called the MASTER WORKER POLiCY C
E R T I F I C A T E 0
F I N S
U R A N C
E Certificate No.
Ni 29 Date of Issue Feb.
9s 19 88 This is to certify that the insureds named in Item 1 of the Declarations
- hereof, hereinafter called the "Named Insureds",
have obtained insurance under the Master Worker Policy issued by Mutual Atomic Energy Liability Underwriters on behalf of its members.
The insurance is subject to all of the provisions of this "Certificate" and the Master Worker Policy.
1 DECLARATIONS Item 1.
Named Insureds and Addresses:
Florida Power 5 Light Company P.O.
Box 029100 Miami, f:lorida 33102-9100 Item 2. Certificate Coverage Period:
Beginning at 12:01 a.m.
January 1,
1988 and ending at the close of December 31,
- 1992, Eastern Standard
- Time, or at the time and date this Certificate is cancelled or terminated, whichever first occurs.
MMWPC-1
( 1/1/88)
Page 1
Item 3. Description of the Facility:
Location:
See Endorsement No.
3.
Type:
Power Reactor (Operating)
Operator of the Facility: Florida Power 5 Light Company Item 4.
Amount of Insurance Available:
The amount of insurance afforded by the Master Worker Policy through this Certificate shall be determined by Section VIII of the Master Worker Policy and all of the other provisions of the policy relating thereto.
Item 5. Advance Premium:
$ 9,675.00 2
APPLICATION OF CERTIFICATE This Certificate applies only to bodily injury to a
new worker (1) which is caused during the Certificate Coverage Period by the nuclear energy hazard and (2) which is dis-covered and for which written claim is first made against an insured under the Certificate within the discovery period of the Master Worker Policy.
3 INDUSTRY RETROSPECTIVE RATING PLAN All insurance under the Master Worker Policy is subject to the Industry Retrospective Rating Plan in use by the companies.'o insurance is provided under this Certificate unless.and until the first Named Insured has accepted in writing the Industry Retrospective Rating Plan Premium En-dorsement and a
copy of the signed endorsement has been issued by the companies to form a part of this Certificate.
MMWPC-1 (1/1/88)
Page 2
0 p
a'
lN WITNESS
- WHEREOF, the companies subscribing the Master Worker Policy have caused this Certificate to be executed and attested on their behalf by the Manager of Mutual Atomic Energy Liablity Underwriters and duly countersigned by an authorized representative.
For the Subscribing Companies of MUTUAL ATONIC ENERGY LIABILITYUNDERWRITERS J. Michael O'C nell, Manager By O~
(Authorize ent)
Countersigned. by:
(Au horized R presentative)
This is to certify that this is a true copy of the original Certificate bearing the number designated hereon, for insurance coverage under the. Nuc ~ar Energy Liability Policy (Fa~
ity Workers Form) herein John L.
i attrocchi, Vi e Presiden lity Underwriting American Nuclear Insurers NMWPC-1 (1/1/'88)
Page 3
0 g
'$ le N'
~
j
~
)
Nuclear Energy LiabilityInsurance MUTUALATOMIC ENERGY LIABILITYUNDERWRITERS INDUSTRY RETROSPECTIVE RATING PLAN PREMIUM ENDORSEMENT It is agreed that:
1.
DEFINITIONS With reference to the premium for the Certificate of which this endorsement forms a part:
"Master Worker Policy" means the Master Worker Policy issued by MAELU; "Certificate Holder" means the first Named Insured in a Certificate issued to form a part of the Master Worker Policy; "advance premium", for any calendar
- year, is the esti-mated standard premium for that calendar year; "standard premium",
for any calendar
- year, is the premium for that calendar year computed in accordance with the companies'ules,
- rates, rating plans (other than the Industry Retrospective Rating Plan),
premiums and minimum premiums.applicable to this insurance.
Standard premium includes elements for premium
- taxes, expenses, profit and contingencies, guaranteed cost insurance and estimated reserve premium.
The elements of standard
- premium, other than for premium taxes and estimated reserve
- premium, are not subject to retrospec-tive adjustment; "reserve premium" means that portion of the premium for a Certificate (including reserve premium charges paid) that is specifically allocated under the Industry Retro-spective Rating Plan for ratable incurred losses; "industry reserve premium", for any period, is the sum of the reserve premiums for that period for all Certifi-cates issued to form a part of the Master Worker Policy; "retrospective adjustment ratio", for any period, is the ratio of the reserve premium for this Certificate for that period to the industry reserve premium for the same period; "incurred losses" means the sum of all:
(1) losses and expenses paid by MAELU, and (2) reserves for losses and expenses as estimated by
- MAELU, ME-W-1 (1/1/88)
Page 1
because of obligations assumed and expenses incurred in connection with such obligations by the members of MAELU under the Master Worker Policy; "ratable incurred losses" means 954 of incurred losses.
Ratable incurred losses are the portion of incurred losses which are not covered by the guaranteed cost insurance element of standard premiums; "non-ratable incurred losses" means 5% of incurred losses.
Non-ratable incurred losses are the portion of incurred losses which are covered by the guaranteed cost insurance element of standard premiums; "reserve for refunds",
as of any date, is the algebraic difference between:
(2) all industry reserve premium for the period from January 1,
1988 through such date, minus the total for the same period of (a) all ratable incurred losses and (b) all industry reserve pre-mium refunds made under the Industry Retrospective Rating Plan by members of MAELU; "industry reserve premium charge", for any period, means the amount determined pursuant to the provisions of Section 4 of this endorsement for payment by the Named Insureds under Certificates; "reserve premium charge" means the portion of an indus-try reserve premium charge payable by the Named Insureds under this Certificate; "industry reserve premium refund", for any period, means the amount determined pursuant to the provisions of Section 4 of this endorsement for return to the Named Insureds under Certificates; "reserve premium refund" means the portion of an indus-try reserve premium refund returnable to the Named Insureds under this Certificate.
2.
PAYMENT OF ADVANCE AND STANDARD PREMIUMS The Named Insureds shall pay the companies the advance premium stated in the declarations, for the period from the effective date of this Certificate through December 31 following. Thereafter, at the beginning of each calendar year while this Certificate is in force, the Named Insureds shall pay the advance premium for such year to the companies.
ME-W-1 (1/1/88)
Page 2
The advance premium for each calendar year shall be stated in the Advance and Standard Premium Endorsement for the year issued by the companies as soon as practic-able prior to or after the beginning of the year.
As soon as practicable after the end of a calendar year or the Certificate Coverage
- Period, the standard premium for the preceding year shall be finally determined and stated in the Advance and Standard Premium Endorsement for that year. If the standard premium exceeds the ad-vance premium paid for that
- year, the Named Insureds shall pay the excess to the companies; if less, the com-panies shall return to the Named Insureds the excess portion paid.
The Named Insureds shall maintain records of the inform-ation necessary for premium computation and shall send copies of such records to the companies as directed, at the end of each calendar
- year, at the end of the Certi-ficate Coverage Period and at such other times as the companies may direct.
3.
SPECIAL RESERVE ACCOUNT; USE OF RESERVE PREMIUMS MAELU shall maintain on behalf of its members a Special Reserve Account for holding collectively all reserve premiums paid for all Certificates issued to form a part of the Master Worker Policy.
Such
- premiums, together with any undistributed net income realized thereon-after taxes and investment
- expenses, shall be used for the following purposes only:
(1) to pay ratable incurred losses or, in the event ratable incurred losses are paid under the Master Worker Policy from funds advanced by the members of MAELU subscribing the
- policy, to reimburse such members as a matter of first priority for the funds advanced; (2) to refund any amounts so held to the Named
- Insureds, as provided in Section 4.
No members of MAELU and no Named Insureds shall have any individual interest in or claim upon amounts held in the Special Reserve
- Account, except to participate propor-tionally in any refund or reimbursement provided for above.
All reserve premiums paid or payable for this Certifi-cate may be used by MAELU to discharge the obligations of its members under the Master Worker Policy with re-.
spect to the above purposes and arising out, of claims
'ade under any Certificate issued to form a part of the Master Worker Policy.
ME-W-1
( 1/1/88)
Page 3
4.
PAYMENT OF RESERVE PREMIUM CHARGES AND REFUNDS As soon as practicable after each December 31 the com-panies will review the status of the reserve for refunds and report their findings to all Certificate Holders.
If, at any
- time, the companies find that there is a
negative balance in the reserve for refunds and that such condition is likely to prevail, they shall deter-mine an appropriate industry reserve premium charge.
Similarly, if the companies find that there is a surplus positive
- balance, they shall determine an appropriate industry reserve premium refund.'he portion of an industry reserve premium charge or an industry reserve premium refund that is:
(1) payable by the Named Insureds as a reserve premium
- charge, or (2) due such insureds as a reserve premium refund, shall be determined by multiplying the industry reserve premium charge or the industry reserve premium refund by the retrospective adjustment ratio applicable to this Certificate.
The amount of any reserve premium charge shall be stated in a Retrospective Reserve Premium Charge Endorsement.
The charge shall be paid promptly after receipt of the endorsement.
When all claims covered by the Master Worker Policy are closed the companies shall make a final review and
- report, and shall determine a final industry reserve premium charge or industry reserve premium refund equal to the amount of the balance.
5.
FINAL PREMIUM The final premium for this Certificate shall be (a) the sum of the standard premiums for each calendar
- year, or portion thereof, during which the Certificate remains in force plus (b) the sum of all reserve
- premiums, includ-ing all reserve premium
- charges, minus (c) the sum of all reserve premium refunds.
6.
RESERVE PREMIUM CHARGE AGREEMENT In consideration of (a) the participation of Named Insureds in other Certificates subject to the Industry Retrospective Rating Plan, (b) the undertaking of such Named Insureds to pay their appropriate share of any industry reserve premium charge and (c) the obligations assumed by the members of MAELU under the Master Worker ME-W-1 (1/1/88)
Page 4
Policy, the Named Insureds, by acceptance of the Master Worker Policy, agree:
(1)
That the insurance provided by the Master Worker.
Policy applies collectively to all claims covered by the policy through any and all Certificates issued to form a part of the policy.
(2)
That the right of each Named Insured under a Cert-ificate to receive reserve premium refunds and the obligation of each such insured to pay reserve premiums charges applies to all claims covered by the Master Worker Policy and continues until all such claims are closed, whether or not such claims were before the inception of the Certificate or after its termination.
(3)
To pay all reserve premium charges due promptly after receipt of the Retrospecti've Reserve Premium Charge Endorsement, whether or not the Certificate is terminated.
Any reserve premium charge shall be overdue if not paid within 60 days of the date of the invoice for the charge.
Overdue reserve premium charges shall bear interest from the due date until paid at an annual rate equal to the sum of (a) 34 plus (b) a rate of in-terest equal to Moody's Average Public Utility Bond Yield described in the issue of Moody's Bond Survey current on the due date.
Any reserve premium refund due to Named Insureds under a Certi-ficate shall be used to pay any overdue reserve premium charges to such Named Insureds.
7.
RESERVE PREMIUM REFUND AGREEMENT Each member of MAELU subscribing the Master Worker Policy for any calendar
- year, or portion thereof, with respect to which an industry reserve premium refund is determined to be payable thereby agrees for itself, severally and not jointly, and in the respective pro-portion of its liability assumed under the Master Worker Policy for that calendar year, to return promptly to the Named Insureds that portion of such refund due such
- Insureds, as determined in accordance with the provisions of this endorsement.
ME-W-1 (1/1/88)
Page 5
~" ~
~
jive ~, ~
Page 6
Accepted and agreed by the first Named Insured in behalf of itself and every other Named Insured stated in the Declara-tions of the Certificate of which this endorsement forms a
part.
Date Hov.
25 1987By Florida Power s Light Company (First Named Insured Print or Type)
- el<.
(Signature of Authorized'Officer)
David K. Baldwin Grou Vice President (Print or Type Name and Title of Officer)
This is to certify that this is a true copy of the original Endorsement having the endorsement number and being made part ofthe Certificate of Insurhnce bearing the number designa d hereon for insurance coverage i nder the Nuclear Energy Liab', ty Policy (Facility Workers Form).
No Ins u is "ft r
~
C )
~
John L. Q trocchi, Vice President-i b 'ty Underwriting American Nuclear Insurers Effective Date of this Endorsement Januar 1
1988 tan ar mme Issued to FlOrida POWer 5 Li ht COm any To form a part of of Certificate No. Nil-29 Date of Issue October 19 1987 For the Subscribing Companies MUTUAL ATOMIC ENERGY LIABILITY ERWRITERS By Endorsement No.
ME-M-1 (1/1/88)
Countersigned by Authorized Repi sentative
1g
~
t E.
Nuclear Energy LiabilityInsurance MUTUALATOMIC ENERGY LIABILITYUNDERWRITERS ADVANCE PREMIUM ANO STANDARD PREilIUM ENDORSEMENT CALENDAR YEAR 1988 1.
ADVANCE PREMIUM: It is agreed that the Advance Premium
~p f
t p
d g
d S
9,675.00 2.
STANDARD PREMIUM ANO RESERVE PREMIUM:
In the absence of a change in the Advance remium indicated above, it is agreed that, subject to the provisions of the Indus-try Retrospective Rating Plan, the Standard Premium is said Advance Premium and the estimated Reserve Premium element of the Standard Premium is:
Effective Date of this Endorsement 7,740.00 Januar 1
1988 This ls to certify that this is a true copy of the original Endorsement having the endorsement number and being made part ofthe Certificate of Insurance bearing the number designate hereon for insurance coverage u, der the Nuclear Energy Liabil'olicy(Facility Workers Form),
No, ssur~sa o,de,.
~ M s John L. Qu~." occAi, Vice President-Li i
Underwriting American Nuclear lnsurers 12r01 A.M. Standard Time Issued to Florida Power
& Light Company Date of Issue Februar 9
1988 For the Subscribing Companies MUTUAL ATOMIC ENERGY LIA3ILITYUNDERWRITERS Endorsement No.
2 By j
l~
Countersigned by ~(.
A. 3.
I c~~s ~
ME-W 2 (1/1/88)
li i
'I g
i ~ ".,A o,'v+;"~
t
/
Nuclear Energy LiabilityInsurance MUTUALATOMIC ENERGY LIABILITYUNDERWRITERS DESCRIPTION OF THE FACILITY ENDORSEMENT It is agreed that Item 3 of the Declarations, "Description of the Facility" is as follows:
Location:
All of the premises including the land and all buildings and structures of Florida Power 8 Light Company's Turkey Point Power Station (including but not limited to con-ventionally (fossil) fueled Units 1 and 2 and nuclear Units 3 and 4 as indicated within the heavy lined portions delineated as the "Nuclear Area" on a reproduced portion of Bechtel Corporation Drawing No.
INS-FKS-001 dated 5/83, a copy of which is attached hereto and made a part hereof.
This is to certify that this is a true copy of the original Endorsement of Ins having the endorsement number and being made part ofthe Cert'fi t
urance bearing the number designated hereon for insurance coverage lnder the Nuclear Energy Liab 'ty Policy (Facility Workers Form).
N~ Ins~e is or "
reu er.
Sohn L. Q ttrocchl, Vi r si e i ilityUnderwriting American Nuclear Insurers Effective Date of this Endorsement Januar 1
1988 12:Ol A.M. Standard Time To form a part of.Certificate No.
Issued to Florida Power 8 Li ht Com an Date of Issue Februar 9
1988 For the Subscribing Companies MUTUAL TOMIC ENERGY IIABILITY ERWRITERS Endorsement No.
3 By i>
L I
Countersigned by
4 W
MCOM Y
~0
~ ~
~
, I
~a V ~
I
~
I i
I
~~
tI:,J t ~ <<
Htlt
%tel tNt O~ i
)0 ~N ~I
@p ghwntt 1
ANVAap LQ
/
~c'v~ v~-.
ce liltt e~ ~r a<< r f' c,r
'(-
c5
~t 'WW I,.
H
='t s
I
=
~ I ll N+ tltd
~ A&I mal At Ktt I'~AW
~T tlfVAI~
t LID QAT~L4 IICNTIL COA9OAATIOII
~ ttSAJHh IIRQl tt%% ~ QCN NOP4H tllQRtt tt<<W<<tt&
<<% ~ P %<<<<PI
<<>> ~
NMI. INSVRANCE WCI.EAR AREA NUCLEAR AREA (NAII Risk'roper ty Insurance-NML)
I~
~%>> C 4
~
7 A
9 INS-fSK-OOI
NUCLEAR ENERGY LIABILITYINSURANCE ASSOCIATION NUCLEAR ENERGY LIABILITYPOLICY (Facility Worker Form) herein called the MASTER WORKER POLICY C
E R T I F I C A T E
0 F I N S
U R A N C
E Certificate No.
Nll-93 Date of Issue Feb.
9,
] 9 88 This is to certify that the insureds, named in Item 1 of the Declarations
- hereof, hereinafter called the "Named Insureds",
have obtained insurance under the Master Worker Policy issued by Nuclear Energy Liability Insurance Associa-tion on behalf of its members.
The insurance is subject to all of the provisions of this "Certificate"'nd the Master Worker Policy.
1 DECLARATIONS Item 1.
Named Insureds and Addresses:
Florida Power 5 Light Company P.O.
Box 029100 Miami, Florida 33102-9100 II Item 2. Certificate Coverage Period:
Beginning at 12:01 a.m.
January 1,
1988 and ending at the close of December 31,
- 1992, Eastern Standard
- Time, or at the time and date this Certificate is cancelled or terminated, whichever first occurs.
NMWPC-1
( 1/1/88)
Page 1
l'
Item 3. Description of the Facility:
Location:
See Endorsement No. 3.
Type:
Power Reactor (Operating)
Operator of the Facility:
Florida Power 5 Light Company Item 4.
Amount of Insurance Available:
The amount of insurance afforded by the Master Worker Policy through this Certificat:e shall be determined by Section VIII of the Master Worker Policy and all of the other provisions of the policy relating thereto.
Item 5. Advance Premium:
$ 33,325.00
'I 2
APPLICATION OF, CERTIF1CATE This Certificate applies.only to bodily injury to a
new worker (1) which, is caused during the Certificate Coverage Period by the nuclear energy hazard and (2) which is dis-covered and for which written claim is first made against an insured under the Certificate within the discovery period of the Master Worker Policy.
INDUSTRY RETROSPECTIVE RATING PLAN All insurance under the Master Worker Policy is subject to the Industry Retrospective Rating Plan in use by the companies.
No insurance is provided under this Certificate unless and until the first Named Insured has accepted in writing the Industry Retrospective Rating Plan Premium En-dorsement and a
copy of the signed endorsement has been issued by the companies to form a part of this Certificate.
NMWPC-1 (1/1/88)
Page 2
c'
IN WITNESS
- WHEREOF, the companies subscribing the Naster Worker Policy have caused this Certificate to be executed and attested on their behalf by the President of Nuclear Energy Liability Insurance Association and duly counter-signed by an authorized representative.
For the Subscribing Companies of NUCLEAR ENERGY LIABILITYINSURANCE ASSOCIATION Burt C. Pr om, President By
~ cE l (Author zed Agent)
II I
(
Countersigned by:
<-t+~'->c 4 A.
.C"-c ~
( uthorized 'Representative)
This is to certify that this is a true copy of the original Certificate bearing the number designated hereon, fo insurance coverage under the Nucl r Energy LiabilityPolicy (Fac y Workers Form) heroin calledthe tastier"'ker
~ ic eisaffordedbythiscopy.
~
~
John L.
trocchi, Vice President -
a ty Underwriting American Nuclear Insurers NMWPC-1 (y/y/88)
Page 3
4~
~
h
/
~
I 1
Nuclear Energy LiabilityInsurance NUCLEAR ENERGY LIABILITYINSURANCE ASSOCIATION INDUSTRY RETROSPECTIVE RATING PLAN PREMIUM ENDORSEMENT It is agreed that:
1.
DEFINITIONS With reference to the premium for the Certificate of which this endorsement forms a part:
"Master Worker Policy" means the Master Worker Policy issued by NELIA; "Certificate Holder" means the first Named Insured in a Certificate issued to form a part of the Master Worker Policy;
<<advance premium", for any calendar. year, is the esti-mated standard premium for that calendar year; "standard premium", for any calendar
- year, is the pre-mium for that calendar year computed in accordance with the companies'ules,
- rates, rating plans (other than the Industry Retrospective Rating Plan),
premiums and minimum premiums applicable to this insurance.
Standard premium includes elements for premium taxes,
- expenses, profit and contingencies, guaranteed cost insurance and estimated reserve premium.
The elements of standard
- premium, other than for premium taxes and estimated reserve
- premium, are not subject to retrospective adjustment; "reserve premium" means that portion of the premium for a Certificate (including reserve premium charges paid) that is specifically allocated under the Industry Retro-spective Rating Plan for ratable incurred losses; "industry reserve premium",
,for any period, is the sum of the reserve premiums for that period for all Certifi-cates issued to form a part of the Master Worker Policy; t
"retrospective adjustment ratio", for any period, is the ratio of the reserve premium for this Certificate for that period to the industry reserve premium for the same period; "incurred losses" means the sum of all:
(1) losses and expenses paid by NELIA, and (2) reserves for losses and expenses as estimated by
- NELIA, NE-W-1 (1/1/88)
Page 1
because of obligations assumed and expenses incurred in connection with such obligations by the members of NELIA under the Master Worker Policy; "ratable incurred losses" means 95~ of incurred losses.
Ratable incurred losses are the portion of incurred losses which are not covered by the guaranteed cost insurance element of standard premiums; "non-ratable incurred losses" means 5% of incurred losses.
Non-ratable incurred losses are the portion of incurred losses which are covered by the guaranteed cost insurance element of standard premiums; "reserve for refunds",
as of any date, is the algebraic difference between:
(2) all industry reserve premium for the period from January 1,
1988 through such date, minus the total for the same period of (a) all ratable incurred losses and (b) all industry reserve pre-mium refunds made under the Industry Retrospective Rating Plan by members of NELIA; "industry reserve premium charge", for any period, means the amount determined pursuant to the provisions of Section 4 of this endorsement for payment by the Named Insureds under Certificates; "reserve premium charge" means the portion of an indus-try reserve premium charge payable by-the Named Insureds under this Certificate; "industry reserve premium refund", for any period, means
.the amount determined pursuant to the provisions of Section 4 of this endorsement for return to the Named Insureds under Certificates; "reserve premium refund" means the portion of an indus-try reserve premium refund returnable to the Named In-sureds under this Certificate.
2.
PAYMENT OF ADVANCE AND STANDARD PREMIUMS The Named Insureds shall pay the companies the advance premium stated in the declarations, for the period from the effective date of this Certificate through December 31 following. Thereafter, at the beginning of each calendar year while this Certificate is in force, the Named Insureds shall pay the advance premium for such year to the companies.
The advance premium for each calendar year shall be stated in the Advance and Standard Premium Endorsement NE-W-1 (1/1/88)
Page 2
"~
for the year issued by the companies as soon as practic-able prior to or after the beginning of the year.
As soon as practicable after the end of a calendar year or the Certificate Coverage
- Period, the standard premium for the preceding year shall be finally determined and stated in the Advance and Standard Premium Endorsement for that, year. If the standard premium exceeds the ad-vance premium paid for that
- year, the Named Insureds shall pay the excess to'the companies; if,less, the com-panies shall return to the Named Insureds the excess portion paid.
The Named Insureds shall maintain records of the inform-ation necessary for premium computation and shall send copies of such records to the companies as directed, at the 'end of each calendar year, at the end of the Certi-ficate Coverage Period and at such other times as the companies may direct.
3.
SPECIAL RESERVE ACCOUNTS USE OF RESERVE PREMIUMS NELIA shall maintain on behalf of its members a Special Reserve Account for holding collectively all reserve premiums paid for all Certificates issued to form a part of the Master Worker Policy.
Such
- premiums, together with any undistributed net income realized thereon afte" taxes and investment
- expenses, shall be used for the following purposes only:
(1) to pay ratable incurred losses or, in the event ratable incurred losses are paid under the Master Worker Policy from funds advanced by the members of NELIA subscribing the
- policy, to reimburse such members as a matter of first priority for the funds advanced; (2) to refund any amounts so held to the Named
- Insureds, as provided in Section 4.
No members of NELIA and no Named Insureds shall have any individual interest in or claim upon amounts held in the Special Reserve
- Account, except to participate propor-tionally in any refund or reimbursement provided for above.
All reserve premiums paid or payable for this Certifi-cate may be used by NELIA to discharge the obligations of its members under the Master Worker Policy with re-spect to the above purposes and arising out of claims made under any Certificate issued to form a part of the Master Worker Policy.
NE-W-1 (1/1/88)
Page 3
4.
PAYMENT OF RESERVE PREMIUM CHARGES AND REFUNDS As soon as practicable after each December 31 the com-panies will review the status of the reserve for refunds and report their findings to all Certificate Holders.
If, at any
- time, the companies find that there is a
negative balance in the reserve for refunds and that such condition is likely to prevail, they.shall deter-mine an appropriate industry reserve premium charge.
Similarly, if the companies find that there is a surplus positive
- balance, they shall determine an appropriate industry reserve premium refund.
The portion of an industry reserve premium charge or an industry reserve premium refund that is:
(1) payable by the Named Insureds as a reserve premium
- charge, or (2) due such insureds as a reserve premium refund, shall be determined by multiplying the industry reserve premium charge or the industry reserve premium refund by the retrospective adjustment ratio applicable to this Certificate.
The amount of any reserve premium charge shall be stated in a Retrospective Reserve Premium Charge Endorsement.
The charge shall be paid promptly after receipt of the endorsement.
When all claims covered by the Master Worker Policy are closed the companies shall make a final review and re-
- port, and shall determine a final industry reserve premium charge or industry reserve premium refund equal to the amount of the balance.
5.
FINAL PREMIUM The final premium for this Certificate shall be (a) the sum of the standard premiums for each calendar
- year, or portion thereof, during which the Certificate remains in force plus (b) the sum of all reserve
- premiums, includ-ing all reserve premium charges, minus (c) the sum of all reserve premium refunds.
6.
RESERVE PREMIUM CHARGE AGREEMENT In consideration of (a) the participation of Named Insureds in other Certificates subject to the Industry Retrospective Rating Plan, (b) the undertaking of such Named Insureds to pay their appropriate share of any industry reserve premium charge and (c) the obligations assumed by the members of NELIA under the Master Worker NE-W-1 (1/1/88)
Page 4
Policy, the Named Insureds, by acceptance of the Master Worker Policy, agree:
(1)
That the insurance provided by the Master Worker Policy applies collectively to all claims covered by the policy through any and all Certificates issued to form a part of the policy.
(2)
That the right of each Named Insured under a Cert-ificate to receive reserve premium refunds and the obligation of each such insured to pay reserve premiums charges applies to all claims covered by the Master Worker Policy and continues until all such claims are closed, whether or not such claims were before the inception of the Certificate or after its termination.
(3)
To pay all reserve premium charges due promptly after receipt of the Retrospective Reserve Premium Charge Endorsement, whether or not the Certificate is terminated.
Any reserve premium charge shall be overdue if not paid within 60 days of the date of the invoice for.the charge.
Overdue reserve premium charges shall bear interest from the due date until paid at an annual rate equal to the sum of (a) 3% plus (b) a rate of in-terest equal to Moody's Average Public Utility Bond Yield described in the issue of Moody's Bond Survey current on the due date.
Any reserve pre-mium refund due to Named Insureds under a
Certificate shall be used to pay any overdue reserve premium charges to such Named Insureds.
7.
RESERVE PREMIUM REFUND AGREEMENT Each member of NELIA subscribing the Master Worker Policy for any calendar
- year, or portion thereof, with respect to which an industry reserve premium refund is determined to be payable thereby agrees for itself, severally and not jointly, and in the respective pro-portion of its liability assumed under the Master Worker Policy for that calendar year, to return promptly to the Named Insureds that portion of such refund due such
- Insureds, as determined in accordance with the provi-sions of this endorsement.
NE-W-1 (1/1/88)
Page 5
0
Page 6
Accepted and agreed by the first Named Insured in behalf of itself and every other Named Insured stated in the Declara-tions of the Certificate of which this endorsement forms a
part.
Florida Power a Li ht Com an (First Named Insured Print or Type)
Date Nov.25 1987 By (Signature of Authorized Officer)
David K. Baldwin (Print or Type Name and Title of Officer)
Group Vice President This is to certify that this is a true copy of the original Endorsement having the endorsement number and being made part ofthe Certificate of Insurance bearing the number designated hereon for insurance coverag under the Nuclear Energy Li ilityPolicy (Facility Workers Form).
'o Ins~nce is "fo er.
John L.
attrocchi, V e Presiden ility Underwriting American Nuclear lnsurers Effective Date of this Endorsement Januar 1
1988 12:Ol A.N. Standard Time Issued to Florida Power lmt Li ht Com an To form a part of.~9 Date of Issue October 19 1987 For the scribing companies General Manager Endorsement No
~
1 NE-W-1 (1/1/88)
I I
I Countersigned by
!-Zilch
(
l-f J
I
0 Nuclear Energy LiabilityInsurance NUCLEAR ENERGY LIABILITYINSURANCE ASSOCIATION ADVANCE PREMIUM AND STANDARD PREMIUM EiVDORSEMENT CALENDAR YEAR 1988 1.
ADVANCE PREMIUM: It is agreed that the Advance Premium P
P P
d 33,325.00 2.
STANDARD PREMIUM AND RESERVE PREMIUM:
In the absence o
a change in t e dvance remium indicated above, it is agreed that, subject to the provisions of the Indus-try'Retrospective-Rating Plan, the Standard Premium is said Advance Premium and the estimated Reserve Premium element of the Standard Premium is:
26,660.00 havin th y
is a hue copy of the original Endorsement ertif that this aving the endorsement number and being made part ofthe Certificate covera u
of insurance bearing the number designated h
f e
ereon or insurance g
under the Nuclear Energy Liab'ty Policy (Facility Workers Form).
0, insurance is afforded here i
er.
John L.
ttrocc >i,' -,
ability UndeNvritin American Nuclear lnsurers ri ng Effective Date of this Endorsement Januar 1
1988 12:01 A.M. Standard Time To form a part of Certificate No.
NM-93 Issued to Florida Power
& Li ht Com an Date of Issue Februar 9
1988 For the Su ribing Corn anies By PRES IDENT Endorsement No.
2 Countersigned by 446K i~
NE-W-2 (1/1/88)
I U
Nuclear Energy LiabilityInsurance NUCLEAR ENERGY LIABILITYINSURANCE ASSOCIATION DESCRIPTION OF THE FACILITY ENDORSEMENT It is agreed that Item 3 of the Declarations, "Description of the Facility" is as follows:
Location:
All of the premises including the land and all buildings and structures of Florida Power
& Light Company's Turkey Point Power Station (including but not limited to con-ventionally (fossil) fueled Units 1 and 2 and nuclear Units 3 and 4 as indicated within the heavy lined portions delineated as the "Nuclear Area" on a reproduced portion of Bechtel Corporation Drawing No.
INS-FKS-001 dated 5/83, a copy of which is attached hereto and made a part hereof.
This is to certify that this is a true cop of the h
I th do t
b gmadeparto theCert scat men numberandbein m
~'g ted hereon for Insurarlce rng e number desi na Fr
)
Is 'f ddh e
uc ear Energy Lia 'lit Polic F
i a or edher
> der.
John L.
uattr~~itl, American Nuclear Insurers
,'iabilityUnderwriting Effective Date of this Endorsement January 1,
1988 12:01 A.M. Standard Time To form a part of Certificate No.
Nil-93 Issued to Florida Power
& Light Company Date of Issue Februar 9
1988 For the Sub cribing Companies By PRESIDENT Endorsement No.
Countersigned by
~
E
~\\
1 4
(jp
" ~ 4:q~-
1
4 ICCIOO oMD g M.~
~IIIO OIOMO 1444 0
~N i iH p t tI CO144C I
~Ve OMOJ N
. 1,.=84
- OCCO, I
I 4
1
~r ~ saeerm aea, Is (41. 4 D
~
~ NNO
/ MIMC E[l Isl
~ 14I NNAI ll" I(I
~
MCCICO NOO NUCLEAR AREA
( All Risk'roperty Insurance-NML)
PICNtlL COAPOAATIOII
~VNHSWSL IOONNN
%1CVC1IOu\\ ONOWN OOSKD COO
<<1 W COlu4I OC Cl0 NMI. INSVRANCE IAIDO.EAR AREA POSOA PPON a aWa aSNST
~WOOO OONI OOOIOOO ONOO
~MI
= =L-
~ NN
~rl 4~
IOO ON
~ r A '1&1 N
1 IIN-III II A
~
1 A
P I
II INS FSK-OOI