ML19350D067
| ML19350D067 | |
| Person / Time | |
|---|---|
| Site: | Sequoyah  |
| Issue date: | 04/07/1981 |
| From: | Duck J MARSH & MCLENNAN, INC. |
| To: | Saltzman J Office of Nuclear Reactor Regulation |
| References | |
| NUDOCS 8104130235 | |
| Download: ML19350D067 (6) | |
Text
'400 North Akard Strett Dallas, Texas 75201
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Telephone 214 7421941
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7 April, 1981 e.\\
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Mr. Jerome Saltzman, Chief 2
e Office of Antitrust & Indemnity w
Nuclear Reactor Regulation c:
/,IR 101981 *,
Nuclear Regulatory Conmission
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s, M&M Nuclear Consultants Tennessee Valley Authority Sequoyah Nuclear Plant, Unit 2 MAELU Secondary Financial Protection Binder XB-75 Binder, Declarations and Bond i
CERTIFIED COPIES
Dear Jerry:
Enclosed for your records and appropriate distribution are two certified copies of the fully executed Binder, Declarations and Bond to MAELU Secondary Fin ncial Protection Excess Binder XB-75 on the Tennessee Valley Authority Sequoyah Nuclear Plant Unit 2.
Very truly yours, uckfd' I on Assistant Vice President cc: L. L. Snell J. R. Monahan jv1ool s
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8104130 9 3 h f
A national servu.e of Marsh & McLennan, incorporated
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IW l.UDING BINDER NO. XB-7 5 DECLAR \\TIONS AND BOND FOR PAYMENT OF RETROSPECTIVE PREMlUMS BINDER The members of Mutual Atomic Energy Liability Underwriters, hereinaf ter called the " companies", subscribing this binder, each for itself, severally and not jointly, and in the respective proportions set forth herein, and the insureds named in Item 1 of the Declarations below, agree as follows:
A.
The companies hereby bind insurance to the insureds named in Item 1 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 may 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 Regulatory Commission, a copy of which is attached hereto, and includes all binders issued by the companies in connection with such Draft Master Policy. The Master Policy, as subsequently issued by the companies, shall cancel and replace this binder and the Draft Master Policy effective as of the time and date of the inception of the binder period.
C.
Such insurance as is provided by the Draft Master Policy applies, through this binder, only:
(1) to the insureds identified in Items 1 and 2 of the Declarations below, (2) to bodily injury or property damage (a) with respect to which the primary financial protection described in Item 4 below would apply but for exhaustion of its limit of liability and (b) which is caused during the binder period stated in Item 8 below by the radioactive, toxic, explosive or othet-hazardous properties of nuclear material and (c) which is discovered and for which written claim is made against the insured not later than ten years after the end of such binder period; provided, however, that with respect to bodily injury or property damage caused by an extraordinary nuclear occurrence this subparagraph (C) shall not operate to bar coverage for bodily injury or property damage which is discovered and for which written claim is made against the insured not later than twenty years after S date of exyaordinary nuclear occurrence.
P10R ORIGINAL
de DECL MATIONS j
Item 1.
Named insureds and addresse..
Tennessee Valley Authority - Chattanooga, Tennessee 37401 Item 2.
Additional Insureds:
Any other person or organization who would be covered under primary financial protection decscribed in Item 4 of this binder but for exhaustion of the limit of liability of such primary financial protection.
Item 3.
Description and location of the nuclear reactor: Unit 2 of the Sequoyah Nuclear Plant located in Hamilton County, Tennessee item 4.
Identification of primary financial protection applicable to the nuclear reactor and limit of liability thereof:'
247 $124,000,000 Nuclear Energy Liability Insurance Association Policy NF-102 $36,000,000 Mutual Atomic Energy Liability Underwriters Policy MF-Do other nuclear reactors share the limit of liability provided under the primary financial protection? Yes item 5.
Maximum retrospective premium (exclusive of allowance for premium taxes) payable to the companies under the Draft Master Policy with respect to each nuclear incident:
$1,125,000 i
P00R ORIGINAL.
u Item 6.
Portion of the annual premiura payable for the companies' euntingent liabilit'/
described in Cundition 4 of th ficaf t _ Master Policy from the effective date hereof to the end of calendar
.ar 1978:
The pro rata portion of S1,350.00 date of this binder to the end of the calendar for the period from the effectis e year during which such effecti fe date occurs.
Item 7.
Limits of Liability:
See Item 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 Nuclear Regulatory Ccmmission for the reactor described in Item 3 of this binder becomes effective and continuing to the effcetive date and time of cancelation or termination of the Draft Master Policy or this binder, whichever first cccurs, eastern standard time.
BOND FOR PAYMENT OF RETROSPECTIVE PREMIUMS Know all Men By 'Ibese Presents, that the undersigned do hereby acknowledge that they are named insureds under the Draft Master Policy described in the above Binder and Decla ra tions. The named insureds do hereby covenant with and are held and are firmly bound to the subscribing members of Mutual Atomic Energy Liability Underwriters (hereinafter called the " companies") to pay to the companies all retrospective 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 computed at the rate provided in the Draft Master Policy from the date payment thereof is specified to be due the companies in a written n'otice to the named insured, as provided in Condition 1 of the Draft Master Policy until paid.
And it is hereby expressly 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 authori::ed 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 the 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 Bond or (2) in enforcing any of the covenants or provisions of this Bond, or any provisions of the Draft Master Policy relating to such covenants or provisions.
For the purpose of recording this agreement, a photocopy acknowledged before a Notary Public to be a true copy hereof shall be regarded as an original.
THE ABOVE BINDER, DECLARATIONS AND BOND FORM A PART OF THE DRAFT MASTER POLICY. CANCELATION OR TERMINATION OF THE DRAFT MASTER POLICY OR THE BINDER SHALL NOT AFFECT THE OBLIGATIONS CF THE NAMED INSUREDS UNDER THE DRAFT MASTER POLICY OR THE BOND TO PAY THE RETROSPEC!TVE PREMIUMS AND ALLOWANCES FOR PREMIUM TAXES WITH RESPECT TO ANY BODILY INJURY OR PI CPERTY DAMAGE WHICH IS CAUSED DURING THE BINDER PERICD.
R P00R ORIGINAL
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l IN WITNESS WiiEllEOF. t!.e named insured nave caut,ed this itin de c. tiiese Declarations and thi.s Bond ion-Payment vi ic e t ro s p ec ti v - P r em i um :.. to be :,igned and scaled by a duly authot ired officer, to be eftective.
of the time and date of the inccption of the binder period.
Attest or Witness Natacd Insureds:
Tennessee Valley Author ity (Named Insured - Type er Print) y
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_Y (SEAL)
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By Assmant Secremry (signature of Officer)
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L. Snell, Purchasing Agent (Type or Print Name & Title of Officer)
Date:
February 10, 1981 (Named Insured - Type or Print)
By (S E AL';
(Signature of Officer)
(Type or Print Name & Title of Officer)
Date:
(Named Insured - Tfpe or Print)
By (SEAL)
(Signature of Officer)
(Type or Print Name & Title of Officer)
Date:
(Named Insured - Type or Print)
By_
(SEAL)
(Signature of Officer)
(Type or Print Name & Title of Officer)
Date:
P00R ORIGINAL
IN WITNESS WHEREOF, the sub2cribing companics hnva cauced the Bindsr and the Declarations to be signed on their behalf by the Manager of Mutual. Atomic Energy Liability Underwriters, to be effective as (if the time and date of the inception of the binder period, and countersigned below by a duly authorized representative.
l Attest or Witness For the Subscribing Companies of Mutual Atomic Energy Liability I
Underwriters t^ k YN W/
By
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Countersigned by (Authorized Representative)
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Subscribing Companies PROPORTION OF 100%
American Mutual Liability Insurance Company, Wakefield, MA 15.0000000 Employers Insurance of Wausau A Mutual Company, Wausau, WI 15.0000000 Liberty Mutual Insurance Company, Boston, MA 30.0000000 Lumbermens Mutual Casualty Company, Long Grove, IL 30.0000000 Michigan Mutual Insurance Company, Detroit, MI 5.0000000 Sentry Insurance, A Mutual Company, Stevens Point, WI 5.0000000 This is to certify that this is a true copy of the original Binder, bearing the number designated hereon, for insurance coverage under the DRAFT MASTER POLICY -
NUCLEAR ENERGY LIABILITY POLICY (Secondary Financial Protection) dated June 24,1977. No insurance is afforded by this copy.
N.
Mutual Atomic Energy Liability Underwriters
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