ML20037D197
| ML20037D197 | |
| Person / Time | |
|---|---|
| Site: | Sequoyah  |
| Issue date: | 05/18/1981 |
| From: | Fielder J MARSH & MCLENNAN, INC. |
| To: | Saltzman J Office of Nuclear Reactor Regulation |
| References | |
| NUDOCS 8105220204 | |
| Download: ML20037D197 (6) | |
Text
I 400 North Akard Strest
[d"3d Dallas, Texas 75201 Telephone 214 742-1941 l
May 18, 1981 i
/'SN F
Mr. Jerome Saltzman, Chief I' g g 11981 **
C Office of Antitrust & Indemnity 83 v.h % s W sont E.
Nuclear Reactor Regulation Nuclear Regulatory Commission y
Washington, D. C. 20555 O
1 M&M Nuclear Consultants.
l Tennessee Valley Authority Sequoyah Nuclear Plant Unit 2 ANI Secondary Financial Protection Excess Binder EB-75 and Bond CERTIFIED COPIES
Dear Mr. Salztman:
Enclosed for your rec. -is are two certified copies of the fully executed Binder, DecL ations and Bond to ANI Sacondary Financial Protection Excess Binder EB-75 on the Tennessee Valley Authority Sequoyah Nuclear Plant Unit 2.
Very truly yours,
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L Jean Fielder l
cc: L. L. Snell J. R. Monahan jf Enclosure g/
3 lb l
8105 2 20SD'/
7 A national service of Marsh & McLennan, Incorporated
BINDER INCLUDING BINDER NO. EB 75 DECLARATION AND BOND FOR PAYMENT OF RETROSPECTIVE PREMIUMS BINDER The members of Nuclear Liability Insurance Association, hereinafter l
called the " companies", subscribing this binder, each for itself, severally l
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 Draft Master Policy, as it may be amended t
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:
l l
(1) to the insureds identified in Items 1 and 2 of the Declarations
- below, (2) to bodily injury or property damage l This is to certify that this is a (a) with respect to which the primary financial protection crue copy of the original binder, described in Item 4 below would apply but for exhaustion beard-the number designated of its limits of liability and her
.n, for fasurance coverage lunder the DRAFT MASTER POLICY-(b) which is caused during the binder period stated in Item iNUCLEAR ENERGY LIABILITY POLICY 8 below by the radioactive, toxic, explosive or other (Secondary Financial Protection) hazardous properties of nuclear material and dated June 24, 1977. No In--
surance is afforded by this coay. (c) which is discovered and for which written claim is made against the insured not later than ten years after the
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end of such binder period; provided, however, that with r
respect to bodily injury or property damage caused by an h
extraordinary nuclear occurrence this subparagraph (c) shall not operate to bar coverage for bodily injury or kbn L.
uat i 71ce President-Liability U derw i ing, property damage which is discovered and for which written l\\mmrican Nuclear Insurers claim is made against the insured not later than twenty years af ter the date of the extraordinary nuclear occurrence l
2-DECLARATIONS Item 1.
Named insureds and addresses:
(a). Tennessee Valley A'uthority - Chattanooga, Tennessee 37401 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 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:
Nuclear Energy Liability Insurance Association Policy NF-247 $124,000,000 Mutual Atomic Energy Liability Underwriters Policy MF-102 5 36,000,000 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 ta-es) payable to the companies under the Draft Master Policy with respect to each nuclear incident: $3,875,000.
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.p. Item 6.
Portion of the annual premium payable for the comptaies' contingent liability described in Condition 4 of the Draft 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 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 -
Comission 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.
BOND FOR PAYMENT 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 Nuclear Energy Liability Insurance Association (hereinafter called the " companies") to pay to the companies all retrospective premiums and allowances for premium taxes which shall become cue 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 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 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 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 the or nature (gainst any and all liability, losses and expenses of whatsoever kind companies a 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 OF THE NAMED INSUREDS UNDER THE DRAFT MASTER POLICY OR THE BOND TO PAY THE RETROSPECTIVE PREMIUMS AND ALLOMANCES FOR PREMIUM TAXES WITH RESPECT TO ANY BODILY INJURY OR PROPERTY DAMAGE WHICH IS CAUSED DURING THE BINDER PERIOD.
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IN WITilESS tlHEREOF, the named insureds have caused this Binder, these Decisra-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 period.
Attest or Witness NAMED IflSUREDS:
Tennessee Valley Authority g/~.
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By
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(SEAL)
Assent Secretary (Signature of Offich)
L. L. Snell, Purchasing Agent (Type or Print Name & Title of Officer)
Date: February 20, 1981 (flamed Insured - Type or Print)
By (SEAL)
(Signature of Officer)
(Tice nr Print Name & Title of Officer)
Date:
j (flameo Insured - Type or Print)
Ey (SEAL) l (Signature of Officer)
(Type or Print Name & Title of Officer)
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Date:
(Named Insured - Type or Print)
By-(SEAL)
(Signature of Officer)
(Type or Print flame & Title of Officer)
Date:
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(Pag? 5 of 5 Pages) a IN WITilESS WHERE0Fs the subscribing companies 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 time 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 Nuclear Energy Liability Insurance Asso iation c
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