ML19344E567

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Forwards ANI Secondary Financial Protection Binder EB-73
ML19344E567
Person / Time
Site: Farley Southern Nuclear icon.png
Issue date: 08/26/1980
From:
MARSH & MCLENNAN, INC.
To: Saltzman J
Office of Nuclear Reactor Regulation
References
NUDOCS 8009020278
Download: ML19344E567 (6)
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Text

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400 North Akard Street Dallas, Texas 75201 Telephone 214 7421941 gg M*Q I August 26, 1980 Mr. Jerome Saltzman, Chief Office of Antitrust & Indemnity Nuclear Reactor Regulation l'iclear Regulatory Cornission b:shington, D. C. 20555 M&M Nuclear Consultants Alabama Power Company -

J. M. Farlty Nuclear Plant ANI Binder EB-73 Secondary Financial Protection CERTIFIED COPIES ,

Dear Mr.Saltzman:

Enclosed for your records are 'two certified copies of ANI's Secondary Financial Protection Binder EB-73 for the Alabama Power Company J. M.

Farley Nuclear Plant.

Sincerely, l

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Jean Fielder cc: Norman Horsley J. Collins 00/

S jf Enclosure  !

8009020 #d7%

A technical service of Marsh & McLennan. Incorporated

BINDER INCLUDING BINDER NO. EB y DECLARATION AND BOND FOR PAYMENT OF RETROSPECTIVE PREMIUMS BINDER The members of Nuclear Liability Insurance Association, hereinafter called the " companies", subscribing this binder, each for itself, severally and not jointly, and in the resnc:.!ve proportions set forth herein, and the insureds named in Item 1 of tha Declarations below, agree as follows:

A. The companies hereby bind insurance to the insureds naced in Item I of the Declarations in accordance with the provisions of the Draft Master Policy. All rights and obligations of the parties to this binder are set forth in the provisions of the Draf t Master Policy, as it ray be amended from time to time pursuant to its conditions or paragraph B below.

B. The term " Draft Master Policy' means the draft of the MASTER POLICY--

NUCLEAR ENERGY LIABILITY POLICY (SECONDARY FINANCIAL PROTECTION) dated June 24, 1977 in the custody of the Nuclear Regulatorf Commission, a copy of which is attached hereto, and includes all binders issued by the coc:panies in connection with such Draft Master Policy. The Master Policy, as subsequently issued by the companies, shall canc21 and replace this binder and the Draft Master Policy effective as of the time ard date of the inception of the bincer period.

C. Such insurance as is provided by the Draft Master Policy applies, through

^

this binder only:

(1) to the insureds fdentified in Items 1 and 2 of the Declarations below, (2) to bodily injury or crocerty darace This is to certify that this is a (a) with respect to which the primary financial protection true copy of the original binder, described in Item 4 below wcJld apply but for exhaustion bearing the number designated of its limits of liability and aereon, for insurance coverage 2nder the DRAFT MASTER POLICY- (b) which is caused during the binder period stated in Item TCLT.AR ENF.ROY LIA31LITY POLICY 8 below by the radioactive, toxic, explosive or other (Secondary Financial Protection) ha::ardous properties of nuclear raterial and lated June 24, 1977. No In-surance is afferded by this copy. (c) which is discovered and for which written claim is made l

} /0 against the insured not later than ten years af ter the

\l end of such binder period; provided, however, that with l

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respect to bodily injury or property darage caused by an extraordinary nuclear occurrence this subparagraph (c)

Io.n L. Quattrocchi, shall not operate to bar coverage for gdily injury or lice President-Liability Underwriting, procerty darace which is discovered and for whicn written

\:orican Nuclear Insurers claim is made against the insured not later than twenty l

years after the date of the extracrdinary nuclear occurrence.

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DECLARATIONS Item 1. Named insureds and addresses:

(a) Alabama Power Company - 600 North 18th Street, Birmingham, AL 35291 Item 2. Additional insureds:

Any other person or organization who would be covered under primary financial protection described in Item 4 of this binder but for exnaustion of tne limit of liability of such primary financial protection.

Item 3. Description and location of the nuclear reactor: Unit 2 of the Joseph M. Farley Nuclear Plant located in Houston County, Alabama Item 4. Identification of primary financial protection applicable to the nuclear reactor and limit of liability thereof:

Nuclear Energy Liability Insurance Association Policy NF- 233 5120,000,000 Mutual Atomic Energy Lia'.ility Underwriters Policy MF- 93 5 36,000,000 Do a:ner nuciear reac rs share the limi: cf liabilitj provided under the cricary financial oratection? Yes Item . Maximum retrospective premium (exclusive of allowance for premium taxes) payabic to the companies under the Draf t Master Policy with respect to each nuclear incident: $3,375,000.

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Item 6. Portion of the annual premium payable for the companies' contingent liability described in Condition 4 of the Deaft Master Policy from the effective date hereof to the end of calendar year 1978: The pro rata portion of $4,650 for the period from the effective date of this binder to the end of the calendar year during which such effective date occurs.

Item 7. Limits of liability: See Iten 3 of the Declarations of the Draft Master Policy.

Item 8. Binder period: Beginning at the same time and date that the Facility Operating License issued by the United States fluclear Regulatory -

Commission for the reactor described in Item 3 of this binder becomes effective and continuing to the effective date and time of cancelation or termination of the Draft Master Policy or this binder, whichever first occurs, eastern standard time. .

B0!!D FOR PAYMEriT OF RETROSPECTIVE PREMIUMS Know All Men By These Presents, that the undersigned do hereby acknowledge that they are named insureds under the Draft Master Policy described in the above Binder and Declarations. The named insureds do hereby covenant with and are held and are firmly bound to the subscribing members of fluclear Energy Liability Insurance Association (hereinafter called the " companies") to pay to the companies all retrospectiv'e premiums and allowances for premium taxes which shall become due and payable in accordance with the terms of the Draft Master Policy with interest on such premiums and allowances for taxes to be computec at tne rate provided in the Draft Master Policy from the date payment thereof is specified to.be due the companies in a written notice to the named insured, as provided in Condition 1 of the Draft Master Policy until paid.

And it is hereby exoressly agreed that copies of written notices of retrospective premiums and allowances for premium taxes due and payable or other evidence of

. such amounts due and payable sworn to by a duly authorized representative of the companies shall be prima facie evidence of the fact and extent of the liability of the named insureds for such amounts.

And it is further expressly agreed that the named insureds will indemnify t%

companies against any and all liability, losses and expenses of whatsoever kind or nature (including but not limited to interest, court costs and counsel fees) which the companies may sustain or incur (1) by reason of the failure of the named insureds to comply with the covenants and provisions of this Sond or (2) in enforcing any of the covenants cr provisions of this Bond, or any provisions of the Draf: :hster Policy relating to such cwenants or provisions.

Fce P.% ruriose of recording *.his agreement, a choteccay acknowi+fged bafera a flotary Public to be a true copy hereof shall be regarded as an original.

THE ABOVE BlHDER, DECLARATIONS A.'lD BOND FORM A PART OF THE DRAFT MASTER POLICY.

CANCELATION OR TERMIrlATION OF THE ORAFT MASTER POLICY OR THE SINCER SHALL NOT AFFECT THE OBLIGATIONS OF THE NAMED INSUREDS UNDER THE DRAFT MASTER POLICY OR THE BOND TO PAY THE RETROSPECTIVE PREMIUMS AND ALLO'.!ANCES FOR PREMIUM TAXES WITH RESPECT TO ANY BODILY If! JURY OR PROPERTY DAMAGE WHICH IS CAUSED CURING THE DINCER PERIOD.

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IN HITNESS " HEREOF, the named insureds have caused this Binder, these Declara-tions and this Bond for Payment of Retrospective Premiums, to be signed and sealed by a duly authorized officer, to be effective as of the time and date of the inception of the binder pericd.

Attest or Witness NAMED INSUREDS:

Alabama Power Cornany emed Insure ,Tv e or Print)

'Wd/Yt*L&2 C?L ' By " A 1.l- (SEAL)

(Signature of Officer)

Travis 3. Bowden. Trancurer (Type or Print Name & Title of Officer)

Date:

(Namec Insurea - Type or Print)

By (SEAL)

(Signature of Officer) v

, tType or Print Name & Title of Officer)

Date:

(Named Insurec - Type or Print)

By (SEAL) i (Signature of Of*icer)

(Type or Print Name & Title of Officer)

I Date:

{ (Namea Insurec - Type or Print)

By (SEAL)

(Sicnature of Officer) 1 ?ype or er r.: .ama i i;f.c cf Officer, Date:

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Ifl WITf!ESS WHEREOF, the subscribing corpanies have caused the Binder and the Declarations to be signed on their behalf by the President of fluclear Energy Liability Insurance Association to be effective as of the tire and date of the inception of the binder period, and countersigned below by a duly authorized representative.

Attest or Witness For the Subscribing Companies of fluclear Energy Liability Insurance p Association {/

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By

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N Burt C. Proom, President

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