ML20151A636
| ML20151A636 | |
| Person / Time | |
|---|---|
| Site: | Pilgrim, Crystal River, Yankee Rowe, 05000000 |
| Issue date: | 03/28/1988 |
| From: | Oconnor D MARSH & MCLENNAN, INC. |
| To: | Dinitz I Office of Nuclear Reactor Regulation |
| References | |
| NUDOCS 8804070146 | |
| Download: ML20151A636 (67) | |
Text
_ _ _ - _ _ - - - _ _ _ - - _ _ _ -__ ____-- ___-_ _. . _ _ _ _ _ - - _ _ _ - _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ - _ - _ - - _ _ . _ _ _ - _ _ _ _ - . _ . _ _ ____
Menrun Y__ _
M & M Nudear Consultants
. 1221 Ascoue of the Amergas i New bil. Nm bsk 1001010'O Tdeph(me 212 W7 2ms) l i March 28, 1988 I
i Hr. '4ra Dinitz I Insuranco Liability Specialist !
l I 4 Office of Nuclear Reactor Regulation Mail Stop 128 f
- U.S. Nuclear Regulatory Commission j Washington, D.C. 20555 [
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l Nuclear Enert .Ality Insurance ,
d Policy /Certif. e Endorsements l
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Dear Ira:
l Enclosed are two certified copies of et nf the following i l
) docu:nents: j l
Boston Edison Company j 4
- Certificates NW-96/MW-32; ;
- Endorsements 1-2 to Certificates NW-96/HW-32.
I i
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Florida Power Corporation, et al i 2 - Certificates NW-103/MW-62; i
- Endorsements 1-2 to Certificates NW-103/MW-62. }
General Electric Company
- Endorsements 140/43 to Policies NF-1/MF-95;
- Endorsemente 4 to Certificates NW-1/MW-66.
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{ yankee Atomic Electric company j l
- Certificates NW-34/MW-8; j j - Endorsements 1-2 to Certificates NW-34/HW-8. )
j If you have any questions, please don't hesitate to contact me. f
' I Regards, f
/ {
l David'J. O'Connor, Jr. I Nuclear Consultant j DJO i Enc. {
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( r 8804070146 880329
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-_ 2 * ****88L_ ___-__- l
Nuclear Energy Liability Insurance MUTUAL ATOMIC ENERGY LIABILITY UNDERWRITERS ADVANCE PREMIUM AND STANDAR0 PREMIUM ENCORSEMENT CALENDAR YEAR 1988
- 1. ADVANCE PREMIUM: It is agreed that the Advance Premium cue the companies for the period designated above is:
! 4,837.00 ,
- 2. STANDARD PREMIUM AND RESERVE PREMIUM: In the absence of a cnange in the Advance Premium 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:
- e 3,870.00 Thiu is to cetify that this is a true copy cf the original Endorsement
', , Mncorsemen! number ced being mcda part of the Certificato cf locurance bearing :he number dadpnated hereon for insurance co.erage unAr the Nuclear En;rgy Lhbihty clicy (Facility Workers Ferrn). No in urance M affor 'd ' -
John i Quat ich o' P adent - Ua r) nderwriting Amert:an Nuclear Incurers Effective Date of this Endorsement January 1, 1988 To form a part of Certificate No, MW-8 12:01 A.M. Standard Time Issued to Yankee Atomic Electric Company i
l Date of Issue January 28, 1988
! For the Subscribing Companies l MUTUAL ATOMIC ENERGY LIA3ILITY UNDERWRITERS k
sx ~ 2 . h_ . - _. d
- Endorsement No. 2 Countersigned by AA '
I BYi (([#
l ME-W-2 (1/1/88) l 1
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Nuclear Energy Liability Insurance MUTUAL ATOMIC ENERGY LIABILITY UNDERWRITERS INDUSTRY RETROSPECTIVE RATING PIAN 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 accordence with the companies' rules, 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; l
"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, l
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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 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:
(1) all industry reserve premium for the period from January 1, 1988 through such date, minus (2) 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 i
l Named Insureds shall pay the advance premium for such year to the companies.
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l 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.
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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 made 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 af ter each December 31 the com-panies will review the status of the reserve for refunds I
and report their findings to all Certificate Holders.
l l If, at any time, the companies find that there is a l negative balance in the reserve for refunds and that
( such condition is likely to prevail, they shall deter-l 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 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 d 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 j
ME-W-1 (1/1/88) Page 4
e 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 dato 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 premium refund due to Named Insureds under a Certi-ficate shall be u ed 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
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.
Yankee Atomic Electric Company (First Named Insured - Print or Type)
Date 11/17/87 By -
(Signature of Authorized M cer)
A.R. Soucy-Treasurer (Print or Type Name and Title of Of ficer)
This is to certify that this is a true copy of the original Endorsement having the endorsement number and being mado part of the Certificate of insurance bearing the number designate' hereon for insurance coverage ur1er the Nuclear Enerpy Liabili' Policy (Facility Workers Form). No I: *,ura ^%a cc ,
John L. Qua ' cchi, Vico resident - Lia li y Underwriting Amercon Nuciect incurcro Effective Date of To form a part of this Endorsement _ January 1,1988 of Certificate No. MU.8 12:01 A.M. Standard Time Issued to Yankee Atomic Electric Comoany
( Date of Issue October 19, 1987
! For the Subscribing Companies
! MUTUAL ATOMIC ENERGY LIABILITY ERWRITERS l
3Y
.T . d4X' M ,::s '"w, K Endorsement No. I Countersigned by l_ A /
Authpgi ((effis%Y7tive l
ME-W-1 (1/1/88) vc pattroM i
MUTUAL ATOMIC ENERGY LIABILITY UNDERWRITERS
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NUCLEAR ENERGY LIABILITY POLICY (Facility Worker-Form) herein called the MASTER WORKER POLICY CERTIFICATE OF INSURANCE Certificate No. MW-8 Date of Issue Jan. 28. 19 88 o 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:
Yankee Atomic Electric Company l 25 Research Drive l Westborough, Massachusetts 01581 I
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 l
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Item 3. Description of the Facility:
Location: The named insured's site of approximately 2,000 acres and situated at Sherman Pond on Deerfield River in the Town of Rowe, Massachusetts.
Type: Power Reactor (Operating)
Operator of the Facility: Yankee Atomic Electric 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: $ 4,837.00 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. No insurance is provided under this certificate i 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
4 IN 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 ATOMIC ENERGY LIABILITY UNDERWRITERS J. Michael O'Connell Manager By T. C N (Authorized Agent)
MARSH & McLINNAN, INC.
. BY Countersigned by: ,,_ _ o mm, (Authorifed~ Representative)
Thic is to cenify that tNs N 3 tum copy of the original Certificato bearing the numbw designated IW fr.n. for iri f rance ecvorogo urdcr the Nuclear E iergy Uab!'if y PC G'/ (FCO hty arkers Form) herein N . iffordsd by this copy.
called the Mas . ir WeD" ' ' PO' '
chi, Vice P:ccident . U-e nderwriting John L Cuets
/ merican Nuclear Insurers e
!EWPC-1 (1/1/88) Page 3
1
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l Nuclear Energy Liability Insurance NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION ADVANCE PREMIUM AND STANDARD PREMIUM ENDORSEMENT CALENDAR YEAR 1988
- 1. ADVANCE PREMIUM: It is agreed that the Advar.ce Premium cue :ne companies for the period designated above is:
$ 16,663.00 .
- 2. STANDARD PREMIUM AND RESERVE PREMIUM: In the absence of a change in the Advance Premium 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:
c rsemont 13,330.00 This is to cortify that this is a true copy of the original f theCer1ificate En o 4,m.
..., fne endcracme rit number cud being
.reco for mada part o insurance of Insuranco boar:ng the nurnter dngr.r.!ad licy (Facility Workers ttw NucWr Erargy Lbh':ity roverop undt fo-Form). No inct anc hi. Vice Pres! dent - Liabihty Underwriting John L. Quattrv -
American Nuclear Insurers Effective Date of NW-34 this Endorsement January 1, 1988 To form a part of Certificate No.
12:01 A.M. Standard Time Issued to Yankee Atomic Electric Company Dato of Issue January 28, 1988 For the Su ribing con antes By &
gggsg [ME INC.
Endorsement No. 2 countersigned by sy,
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NE-W-2 (1/1/88)
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< Nuclear Energy Liability Insurance NUCLEAR ENERGY LIABILITY INSURANCE 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' rules, 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 premiam" means that portion of the premium for a Certificate (including reserve premium charges paid) that is specifically allocated under the Indus'ry Retro-spective Rating Plan for ratable incurred losses; "industry reserve premium", for any period, is the sur
, of the reserve premiums for that period for all Certifi-l 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 l that period to the industry reserve premium for the
) same period; I
"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, l
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:
(1) all industry reserve premium for the period from January 1, 1988 through such date, minus (2) 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 ' hall be stated in the Advance and Standard Premium Er Mrcement NE-W-1 (1/1/88) Page 2
F 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 NELIA shall maintain on behalf of its members a Special Resterve 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 NELIA subscribing the policy, to reimburse such members as a matter of Tirst 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
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- 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. I 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 applicabic 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 i
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 l
l l NE-W-1 (1/1/88) Page 4 i
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 l 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 I 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 prenium 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
Page 6 4
Accepted and agreeri 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.
Yankee Atomic Electric Company (First Name Insur - Print or Type)
Date 11/17/87 By (Signature of' Authorized ~orI'icer)
A.R. Soucy-Treasurer (Print or Type Name and Title of officer)
This is to certify that this is a truo copy of the originst Endorsement having the endorsement numbor and bc.ing rnado partof the Certificate of incurance bo0rina the numt.tr designated he cn forinsuranco coer300 Urdar 'ho Nuclcmr Energ/ LiaD!!ity y (Facility Workers Form). No insun ico in rd or AMA ~
John L Quattro. " ,0 ice t res! nt TLIab5.DJrwriting American Nue'?ar losurers ,
l Effective Date of To form a part of l this Endorsement January 1, 1988 of Certificate No, if,1- 34 12:01 A.M. Standard Time Issued to Yankee Atomic Electric Company Date of Issue October 19, 1987 Tor the scribing companies l
By .
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lan=hnnsac.
Endorsement No. _ 1 Countersigned by n
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'vgt PttscLNi NE-w-1 (1/1/83)
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NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION NUCLEAR ENERGY LIABILITY POLICY (Facility Worker Form) herein called the MASTER WORKER POLICY CERTIFICATE OF INSURANCE j Certificate No. rm.34 Date of Issue Jan. 28. 19 88 This is to certify that the insureds named in Item 1 of the Declarations hereof, hereinafter called tha "Named Insureds", have obtained insurance under the Maste; 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" and the Master Worker Policy.
1 !
DECLARATIONS Item 1. Named Insureds and Addresses:
Yankee Atomic Electric Company 25 Research Drive ,
Westborough, Massachusetts 01581 '
i Item 2. Certificate Coverage Period:
f Beginning at 12:01 a.m. January 1, 1988 and ending at the close of Decerter 31, 1992, Eastern Standard Time, or at the time and date this Certificate is cancelled or terminat.2d, whichever first occurs.
t 6
NMWPC-1 (1/1/8 9 ) Page 1
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Item 3. Description of the Facility:
Location: The named insured's site of approximately 2,000 acres -
and situated at Sherman Pond on Deerfield River in
.the Town of Rowe, Massachusetts.
Type: Power Reactor (Operating) operator of the Facility: Yankee Atomic Electric Company Item 4. Amount of Insurt. ace 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: $ 16,663.00 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 fo'r which written claim is first made against an insured under the certificate within the discovery period of the Master Worker Policy.
3 I!!DUSTRY 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-dersement 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
~
-r Iti WITIZESS WHEREOF, the companies subscribing the Master Worker Policy have caused this Certificate to be executed and attested on their behalf by the President of fluclear Energy Liability Insurance Association and duly counter-signed by an authorized representativo.
For the Subscribing Companies of liUCLEAR EtiERGY LIABILITY IllSURAtlCE ASSOCIATIOli Burt C. Proom, Presiden By .T . ' #/^
(AM horized Agent) gnsa & Mdi. ., !', iNC.
/t. .
BY' Countersigned by: _m
( AuthofTMcT' Representative)
Thic is to certtly that tHa is a true ccpy of the onginc! Certificats bearing the numby &s;0n tJd b rean, for insurance co.trr.pe under the Nucbar Enamy LSb.!:t/ PSM T/ (tac;iity Wary:re Form) herein cal.rt the Mit:ter t ttb,r Pci r / k !" '"-+ ;'//.c rdcd by this copy.
pm L. occuro. ML Ar;1er.!cnn Nuc!c.c vaueoia kervriona t
!!!mPC-1 (1/1/88) Page 3
s NUCLEAR ENERGY LIABILITY INSURANCE MUTUAL ATOMIC ENERGY LIABILITY UNDERWRITERS .
AMENDATORY ENDORSEMENT It is agreed that Item 1 of the Declarations is amended to read:
Address: 3135 Easton Turnpike Fairfield, CT. 06431 Endorsement 1ho o to cortify that this is a true copy of the original t Eng the endorcemeninumber and being mado e par.o'the Cortifica of Insurance bear lng the number designator 5 croon (or insurancrlic canago un"or the Nucioar Energy Llabilit oc -
af f es ' d .
- Ferrn). No Ir. ura icht, Vice President - Liabihty Underwriting John L Quct American Nuclear Insurers Effective Date of this Endorsement January 1, 1988 To form a part of Certificate No. MW-66 Issued to General Electric Company _.
Date of Issue March 16, 1988 For the Subscribing Companies MUTUAL ATONIC ENERGY LIABILITY ERWRITERS Sy R A.11 eM/G ,
y -
znqV 3 Endorsement No. 4 Countersigned by i J JC %
huthorized Representative'
h NUCLEAR ENERGY LIABILITY INSURANCE MUTUAL ATOMIC ENERGY LIABILITY UNDERWRITERS AMEflDATORY EtlDORSEMEtlT It is agreed that Item 1 of the Declarations is amended to read:
Address: 3135 Easton Turnpike Fairfield, CT. 06431 LNs ia to conify thM this is a true copy of the onp;nc! Cndorsement hr.Mg the endorsoment number and be!ng made pc.r'.of the Certficate of Intdranco bearing (no number designated herern f 0r insurance covert.ge c. der tha Nuclear Energy Liabili Policy (Fatihty Workers Form). NJ sur se"n !c .. _
John L. Qua. occhi, Vice President - Lu.a.. Underwriting Amer can Nuc: ear In;urers Effective Date of this Endorsement January 1, 1988 To form a part of Certificate No. MW-66 Issued to General Electric Company Date of Issue March 16, 1988 For the Subscribing Companies MUTUAL ATOMIC ENERGY LIABILITY ERWRITERS By .W OWi7 ,
p'qJ y -
)
Endorsement No. 4 Countersigned by t J JW
'uthortied Representative' A
Nuclear Energy Liability Insurance NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION AMENDATORY ENDORSEMENT It is agreed that Item 1 of the Declarations, as amended by Endorsement No.14, is furth er amended to read:
Address: 3135 Easton Turnpike Fairfield, CT. 06431 This is to ccrtify that this is a true copy c.f the or:dnd Endorsement hwing th e entran.cr.1 n;r 5er and king rr.ni Un t of the Nuchar Emi<r. I.iA :sy pac; tN .ty Earm) as d( s-ignated crcer.. No hu :s ,u.nder.
T.
hL4 e, J- U h O i bi J
/*
! 24 Ann;an he sr i %:s ,,;
Effective Date of this Endorsement January 1.1988 To form a part of Policy No NF-1 12:01 A.M. Standard Time Issued to General Electric Company r he subscribing companies Date of Issue March 16. 1988 By i
- ' 'O A General Manager Endorsement No 140 countersigned by
Nuclear Eriergy Liability Insurance NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION AMENDATORY ENDORSEMENT It is agreed that Item 1 of the Declarations, as amended by Endorsenent No.14, is further amended to read:
Address: 3135 Easton Turnpike Fairfield, CT. 06431 This is to certify tiot this is a tme copy of the odginal Endormnent hsing tbc cndatement number and twing made part of th Nu&ar Entra. LLMty Pe cy r (Fagty Ferm) as des-ignatcP hercon No in..mnce s eDider//ca under.
Jg ., L. a 2 o
/e . ,:.n . . a!.an , ,,
Effective Date of this Endorsement January 1. 1988 To form a part of Policy No NF-1 12:01 A.M. Standard Time Issued to General Electric Company _
- * * * # E* E" "
Date of Issue March 16, 1988 By TA General Manager Endorsement No 140 countersigned by L
I i ,
i Nuclear Energy Ll:bility Insurance !
NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION AMENDATORY ENDORSEMENT It is agreed that Item 1 of the Declarations, as amended by Endorsement No. 4, is further amended to read:
Address: 3)35 Easton Turnpike Fairfield, CT. ~5431 This is to certify that this is a trut copy of the origiral Endorsement having the endorsement num >r and being rnade part of the Ne lear Energy Lubility Pobey (FtcP / Form) as des-ignated hi son. sur nder.
John L Qua:. c N. V<.e Prevdent LaWy Unrdtna Armncan thkar Iwreis Effective Date of this Endorsement January 1, 1988 To form a part of Policy No P1F-95 12:01 A.M. Standard Time Issued to General Electric Company March 16, 1988 For the subscribing companies Date of Issue By .
f~' $ " < W CeMral Manager Endorsement No 43 Countersigned by
1 s
Nuclear Energy Liability Insurance NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION MENDATORY ENDORSEMENT It is agreed that Item 1 of the Declarations, as amended by Endorsement No. 4, is further amended to read:
Address: 3135 Easton Turnpike Fairfield, CT . 06431 This is to certify that this is a true copy of the original Endorsement hwiaa the endorsement num r and being made prt of the Nt -kar Energy LiabDty Po!,cy (Fac' / Form) as des-ignated ht con sur undcr.
John L Qm. chi.Va nnant-thMty U,&rwreru Auncan hLw Inwrers Effective Date of this Endorsement January 1, 1988 To form a part of Policy No MF-95 12:01 A.M. Standard Time Issued to General Electric Company For the subscribing companies Date of Issue March 16, 1988 p.
l
\
sy _' f '~~'k%
General Manager Endorsement No 43 Countersigned by
Nuclear Energy Liability Insurance MUTUAL ATOMIC ENERGY LIABILITY UNDERWRITERS ADVANCE PREMIUM AND STANDARD PREMIUM ENDORSEMENT CALENDAR YEAR 1988
- 1. ADVANCE PREMIUM: It is agreed that the Advance Premium cue tne companies for the period designated above is:
S 4,837.00 .
- 2. STANDARD PREMIUM AND RESERVE PREMIUM: In the absence of a cnange in the Advance Premium 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:
ms is to certify that th;a is a true copy of the original Endorsement 5 3,870.00 "9 inc endortement number and being mado part of the Certificate of insuranca bearing tha number designated hereen for insurance coserage under the Nuclear Energy Liability cy (Facility Workers Form). No losu. mee is effordo cb
f JA ~
John L Cuattro _ u, heiFFro tT CabWerwriting American Nue car nsurers Effective Date of W-62 this Endorsement January 1. 1988 To form a part of Certificate No.
12:01 A.M. Standard Time [
Issued to Florida Power Corporation , et al Date of Issue January 21, 1988 For the Subscribing Companies MUTUAL ATOMIC ENERGY LIABILITT UNDERWRITERS A
,, .s. h -
Endorsement No. 2
~
Countersigned by f
>y . eMYt~
f z
7, ME 'J-2 (1/1/88)
O s
Nuclear Energy Liability Insurance MUTUAL ATOMIC ENERGY LIABILITY UNDERWRITERS 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 Ir.sured 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' rules, 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 premiua, 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 petiod; "incurrec losses" means the sum of all:
(1) losses and expenses paid by MAELU, and (2) reserves for losses and expenses as estimated by MAELU,
?"E-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 horker 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:
(1) all industry reserve premium for the period from January 1, 1988 through such date, minus (2) 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 7
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.
l 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 MAELO 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 made 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 af ter each December 31 the com- i 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 detor -
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 adjustrent 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 Certificatc 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-j ing all reserve premium charges, minus (c) the sum of all reserve premium refunds.
- 6. RESERVE PREMIUM CHARGE AGREEMENT l
In consideration of (a) the participation of Named Insureds in other Certificates subject to the Industry Retrospective Rating Plan, (b) the undertakJ ng of such l 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 i
l l
l ME-W-1 (1/1/88) Page 4 I
e 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 ir.sured 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 af ter 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 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
Pago 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 Corporation (First Named Insured - Print or Type)
Date /2 W *77 By !
(signature of Authorized officer)
R. R. Hayes. Vice President and Controller (Print or Type Name and Title of Officer) nt
/ This is to certify that this is a true copy of the original ificate naving the endorse mont numberf and insurance being mace part Workers of insurance bearing 'rde r, the number designate~
Form). No insuri 'cc '
Vico F'tesloent - LiabilityDarwriting John L. Quattrocc American Nue! ear insurera Effective Date of To form a part of this Endorsement January 1, 1988 of Certificate No. MW-62 12:01 A.M. Standard Time Issued to Florida Power Corporation et al Date of Issue October 19, 1987 For the Subscribing Companies MUTUAL ATOMIC ENERGY LIABILITY ERWRITERS By
- b k//,
Endorsement No. I Countersigned by ) '0 " '
/ ~ Authorized Re'presentative MI-w-l (1/1/88)
'e O.
MUTUAL ATOMIC ENERGY LIABILITY UNDERWRITNRS NUCLEAR ENERGY LIABILITY POLICY (Facility Worker Form) herein called the MASTER WORKER POLICY CERTIFICATE OF INSURANCE Certificate No.P M Date of Issue Jan. 21. 19 31_
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 Corporation, et al P.O. Box 14042 St. Petersburg, Florida 33733 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.
1 i
i s
MMWPC-1 (1/1/88) Page 1
Item 3. Description of the Facility:
Location: All buildings and premises owned by, occupied by, j or rented to the named insured and located on premises ' identified as Crystal River Unit No. 3 l situated on the Gulf of Mexico about 71: miles northwest of Crysts1 River, Citrus County, Florida.
Type: Power Reactor i
operator of the Facility: Florida Power Corporation ;
I t
Item 4. Amount of Insurance Available. ;
The amount of insurance afforded by the Master I 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: $ 4,837.00 !
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 i INDUSTRY RETROSPECTIVE RATING PLAN l l
All insurance under the Master Wor :er Policy is subject to j the Industry Retrospective Rating Plan in use by the i 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- l dorsement and a copy of the signed endorsement has been issued by the companies to form a part of this certificate. !
i l
MMWPC-1 (1/1/88) Page 2 }
L l
e l
Ili hITiESS 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 ATOMIC E!!ERGY LIABILITY UllDERWRITERS J. Michael O'Connell, Manager By M d1 st "W% ~
( Auqrizac 'Ag1TitT ,
A
/ ) \
Countersigned by: ' 'T bv '
['(AuhorizedRepresentative)
This is to certify that this is a true copy of the original Certificate bearing the number designated heroon, f or insprance coverage under orkers Form) herein the Nuclear Energy Unbility Policy (Facilityp'affordedbythiscopy.
called the Mas 'r Work er Poilc3 Ny. g John L. Cuat (. ti e'Pr udsit! OAQnderwriting American Nucicor insurers IONPC-1 (1/1/88) Page 3
Nuclear Energy Liability Insurance NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION .
ADVANCE PREMIUM AND STANDARD PREMIUM ENDORSEMENT CALENDAR YEAR 1988
- 1. ADVANCE PREMIUM: It is agreed that the Advance Premium cue the companies for the period designated above is:
$ 16,663.00 .
- 2. STANDARD PREMIUM AND RESERVE PREMIUM: In the absence of a enange in the Acvance Premium indicated above, it is 6 greed that, subject to the provisions of the Indus-i try Retrospective Rating Plan, the Standard Premium is said Advance Premium and the astimated Reserve Premium element of the Standard Premium is:
13,330.00 This is to certify that this !s a true copy of the original Endorsement having th2 ondorsoment number and oeing made part of the Certificate of insura ice bearing the number designated her on for insurance
- c. overage under t e Nuclear Encroy Liability Po y (Facility Workers Forrn). No insu' . ce is forced rty gg- ,
John L. Quattroc 5 Iep Pro'sl isnt - LlabilI~tyDrwriting American Nuclear tr,surers Effective Date of this Endorsement January 1.1988 To form a part of Certificate Ne. ffW-103 12:01 A.M. Standard Time Issued to Florida Power Corporation, et al Date of Issue January 21, 1988 For the Su ribing Co- anies By 8 N
,FRESIDENT Endorsement No. 2 countersigned by b7 7 .
~-
/',
NI-u-2 (1/1/88) 1
o Nuclear Energy Liability Insurance NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION INDUSTRY R'ETROSPECTIVE 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 issued byWorker NELIA: Policy" means the Master Worker Policy "Certificate Holder" means the first Named Insured in a Certificate Policy; lasued to form a part of the Master Worker "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' rules, 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; "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; "rcserve for refunds", as of any date, is the algebraic difference between:
(1) all industry reserve premium for the period from January 1, 1988 through such date, minus (2) 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-sureQs 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 Decerter 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
O 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 co=panies 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 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 toe 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 lossas 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 certers under the '.4 aster Worker Policy with re-spect to the above purponas and arising out of claims made under any certifia ta issued to form a part of the Master Worker Policy.
NE-W-1 (1/1/88) Page 3
_ _ _ _ _ _ _ _ - _ - _ _ _ _ _ _ _ _ =
1 I
1
)
- 4. PAYMENT OF RESERVE PREMIUM CHARGES .iND REFUNDS !
l As soon as practicable after each December 31 the con-1 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 rese rve premium charge.
j Similarly, if the companies find that there is t Purplus positive balance, they shall determine an appropriate
- industry reserve premium refund.
.; The portion of an industry reserve premium charge or an ir.dustry 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 4
in a Retrospective Reserve Premium Charge Endorsement.
'; The charge shall be paid promptly after receipt of the endorsement.
i 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 4
.i to the amount of the balance.
i S. FINAL PREMIUM i
The final premium for this certificate snall be (a) tho 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
.i all reserve premium refundo.
,s
- 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 j
Named Insureds to pay their appropriate share of any i industry reserve premium charge and (c) the obligations
] assumed by the members of NELIA under the Master Worker i
NE-W-1 (1/1/88) Page 4 1
l
i 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 clal=s 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 l overdue if not paid within 60 days of the date of j the invoice for the charge.
4 overdue reserve premium charges shall bear interest
- from the due date until paid at an annual rate l 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. I
- 7. RESERVE PREMIUM REFUND AGREEMENT 4
4
' Each member of NELIA subscribing the Master Worker +
Policy for any calendar year, or portion thereof, with L
- respect to which an industry reserve premium refund is ,
- dete rmined to be payable thereby agrees for itself, c j severally and not jointly, and in the respective pro- ;
portion of its liability assumed under the Master Worker t Policy for that calendar year, to return promptly to the Named Insureds that portion of such refund due such ,
Insureds, as determined in accordanc6 with the provi- :
sions of this endorsement.
tl l
h NE-W-1 (1/1/88) Page 5 I
Pego 6 Accepted and agreed by the first Named Insured in behalf of itself and every other Named Insured stated in the Declara-tiens of the certificate of which this endorsement forms a part.
Florida Power Corporation (First Named Insured - Print or type)
Date /)'Al*I7 By / N/b W (Signature of Authbrized officer)
R. R. Hayes, Vice President and Controller (Print or Type Name and Title of Officer)
This is to certify that thic is a true copy of the orlDinal Endors having the endorsement number and being made partof the of insurance bearing the number designated hgeon for irmrance coverage under he Nuclear Energy Uability P/f cy (Facillt Vor rd c, 3 Form). No insur nee I, Vice President - Liabilitherwriting John L. Quattro American Nuclear Insurers Effective Date of To form a part of this Endorsement January 1,1983 of Certificate No. NW-103 12:01 A.M. Standard Time Issued to Florida Power Corporation, et al Date of Issue October 19, 1987 For the scribing onpanies By \
Geo,e al Manager Endorsement No. I Countersigned by {Y #
NE '.:-1 (1/1/SS)
'e e
NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATIO!I NUCLEAR-ENERGY LIABILITY POLICY (Facility Worker Form) herein called the MASTER WORKER POLICY CERTIFICATE OF I N S U R A N C.E Certificate No. NW-103 Date of Issue Jan. 21, 19 8,8_
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" and the Master Worker Policy.
1 DECLARATIONS Item 1. Named Insureds and Addresses:
Florida Power Corporation, et al P.O. Box 14042 St. Petersburg, Florida 33733 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 ,
r i
I Item 3. Description of the Facility: i 4 Location: All buildings and premises owned by, occupied by, i' i
or rented to the named insured and located on premises identified as Crystal River Unit No. 3 !
situated on the Gulf of itexico about 7h miles J northwest of Crystal River, Citrus County, Florida. :
- i Type: Power Reactor Operator of the Facility: Florida Power Corporation
! l 1 f Item 4. Amount of Insurance Available:
The amount of insurance afforded by the Master I Worker Policy through this Certificate shall be ;
determined by Section VIII of the Master Worker !
1 Policy and all of the other provisions of the policy [
relating thereto. l
- Item 5. Advance Premium: S 16,663.00 !
I
- 2 i APPLICATION OF CERTIFICATE This Certificate applies only to bodily injury to a new !
worker (1) which is caused during the certifiaate Coverage Period by the nuclear energy hazard and (2) which is dis- l
- covered and for which written claim is first made against an
i insured under the certificate within the discovery period of l
]
the Master Worker Policy. ;
) !
3 INDUSTRY RETROSPECTIVE RATING PLAN l All insurance under the Master Worker Policy is subject to i the Industry Retrospective Rating Plan in use by the l companies. !!o insurance is provided under this certificate I unless and until the first Named Insured has accepted in l writing the Industry Retrospective Rating Plan Premium En- t dorsement and a copy of the signed endorsement has been i
- issued by the companies to form a part of this Certificate.
NMWPC-1 (1/1/88) Page 2 t
i i
I l) I IN WITNESS WHEREOF, the companies subscribing the Master '
i Worker Policy have caused this certificate to be executed
- and attestod "on their behalf by the President of liuclear
Energy Liability Insurance Association and duly counter- -
] signed by an authori:ed reprasentative, i
l l
For the Subscribing Companies of
, llUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION i Burt C. Proon, Presiden By .e C Dw--h . d N FA ~ !
( Aihhorized Agent) t i
i
/ I 1 ,,
Countersigned by: 2G w '
7 f/(Adthori:ed Representative) e Th!s is to certifv that this is a truo copy of the orfginct Certificato bearing the numbr,r designated hereon, for insur
,ce coverago under the Nuc' ear Entt y Lidlity Poh. (Fe " i^: - l ars form) nor61n ca' led the Mastcr '. mg:y % rded o' y this copy, i
J ahn L Quattrocc Vice Prc:ident Liabihty Underwriting American Noc! car insurers i
i 1
A l
l t
1 I
i i
i
)
l
) NMWPC-1 (1/1/88) Page 3 i
i 4
i
Nuclear Energy Liability Insurance MUTUAL ATOMIC ENERGY LIABILITY UNDERWRITERS ADVANCE PREMIUM AND STANDARD PREMIUM ENCORSEMENT
-e a hh CALENDAR YEAR 1988 fEl'~ &
.E $
E d 6 (2 !1.
.R D ADVANCE PREMIUM: It is agreed that the Advance Premium 4'k@e5 17 ]s cue tne ecmpanies for the period designated above is:
oe E% n-I
~E -
2
~
$ 4,837.00 .
Em eeis .3 ;
.]
$h ,
E E bv{$
g ?p g* vf 3 EW 2 C 5 E E c, . I r2. oTANDARD PREM!UM AND RESERVE PREMIUM: In the absence 2317 yy* of a enange in tne Aovance Premium indicated above, it
- E E N . is agreed that, subject to the provisions of the Indus-
$552 b$ &;,5 3[
try Retrespective Rating Plan, the Standard Premium is 0 said Advance Premium and the estimated Reserve Premium E?"s c 3 ele. tent of the Standard Premium is:
$D8 ..:
'4 3 aEBg$~ 2 6 Jg
.9 c $ 3.870.00 e sp.E3%e ,E f s 5S'S82 4I Effoetive Date of this Endorsement January 1. 1988 To form a part of Certificate No. MW. D 12:01 A.M. standard Time Issuod to Boston Edison Company Date of Issue January 28. 1988 Tor the Subscribing Companies MUTUAL ATONIC ENERGY LI.ABILITT UNDERWRITERS
,I
.w 7.FTeh"C", e E Endorsement No. 2 countersigned by L A N/
v ///* * "Wi
'r
'/ '7
- E-W-2 (1/1/SS)
o Nuclear Energy Liability insurance MUTUAL ATOMIC ENERGY LIABILITY UNDERWRITERS 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-meted standard premium for that calendur year:
"standard premium", for any calendar year, is the premium for that calendar year computed in accordance with the companies' rules, 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
d C
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 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 S it 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
(1) all industry reserve prer.iium for the period frer January 1, 1988 through such date, minus (2) 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 peried, means
- the amount determined pursuant to the provisions of
- Section 4 of this endorsement for payment by the Named i 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.
1 i
- 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 ef fective date of this Certificate through December 31 following. Thereafter, at the beginning of each l 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
I i
j ,
j The advance premium for each calendar year shall be i
- stated in the Advance and Standard Premium Endorsement !
J for the year issued by the companies as soon as practic- !
l able prior to or after the beginning of the year. ;
r i As soon as practicable after the end of a calendar year or the Certificate Coverage Period, the standard premium i 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- l
- vance premium paid for that year, the Named Insureds i i shall pay the excess to the companies; if less, the com-panies shall return to the Named Insureds the excess i portion paid. .
i 3
The Named Insureds shall maintain records of the inform- .
i ation necessary for premium computation and shall send ,
j copies of such records to the companies as directed, at '
j the end of each calendar year, at the end of the certi-
- ficate Coveragd Period and at such other times as tho companies may direct.
- 3. SPECIAL RESERVE ACCOUNT; USE OF RESERVE PREMIUMS l '
i 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 i
! of the Master Worker Policy. Such premiums, together I i
with any undistributed net income realized thereon after !
! taxes and investment expenses, shall be used for the !
i following purposes only: ?
l (1) to pay ratable incurred losses or, in the event .
- ratable incurred losses are paid under the Master i j Worker Policy from funds advanced by the members of j MAELU subscribing the policy, to reimburse such i i members as a matter of first priority fer the funds l advanced; I (2) to refund any amounts so held to the Named -
j Insureds, as provided in Section 4.
! No members of MAELU and no Named Insureds shall have any j individual interest in or claim upon amounts held in the l Special Rese rve Account, except to participate propor- i i tionally in any refund or reimbursement provided for '
j above. ;
a i All reserve premiums paid or payable for this certifi- I cate may be used by MAELU to discharge the obligations l I of its members under the Master Worker Policy with re- j j spect to the above purposes and arising out of claims ;
j nade under any certificate issued to form a part of the j j Master Worker Policy. j l !
i j ME-W-1 (1/1/88) Page 3 [
i .
0
- 4. PAYMENT OT RESERVE PREMIUM CHARGES AND REFUNDS i As soon as practicable af ter 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 thete is a j negative balance in the reserve for refunds and that
! such condition is likely to prevail, they shall deter-1 mine an appropriate industry reserve premium charge.
l' 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 reservo 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 reservc 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 j endorsement.
i 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. TINAL PREMIUM i
i The final premium for this certificate shall be (a) the l
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-l ing all reserve premium charges, minus (c) the sum of I all reserve premium refunds.
l
- 6. RESERVE FREMIUM CHARGE AGREEMENT I
I In consideration of (a) the participation of Named Insureds in other Certifjcates subject to the Industry.
l Retrospective Rating Plan, (b) the undertaking of such I Named Insureds to pay their appropriate share of any l industry reserve premiun charge and (c) the obligations
! assumed by the members of MAELU under the Master Worker l ME-W-1 (1/1/88) Page 4 i
Policy, the Named Insureds, by acceptance of the Master Worker policy, agreet (1) That the insurance provided by the Master Worker Policy applies ecliectively 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 premium refund due to Named Insureds und6r a certi-ficate shall be used to pay any overdue reserve premium charges to such Named Insureds.
. 7. RISERVE PREMIUM REPUND AGREEMENT i
Each men.ber 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 portien of such refund due such Insureds, as determined in accordance with the provisions of this endorsement. ;
i a
ME-W-1 (1/1/88) Page 5 1
Pcg3 6 Accepted and agreed by the first flamed Insured in behalf of itself and every other flaned Insured stated in the Declara-tiens of the certificate of which this endorsement forms a part.
Boston Edison certwrf (First flamed Insured - Print or Type) ;
/
Date 11/6/87 By _ -
(Signature of Authorized Officer)
'Jorms J. bby, Senior Vice Presiamt & Treasurer Il71"nt er Type llame and Title of Officer) l l
1 TPis is to cortily that this is a tiuo copy of the original Endorsement hasing the endortamerit numbarand being made part of the CertMicato cf insurance bearing the number designated he t.on for insurance ccverego under the Nuclear Energy Untility P cy (Facility Workers Fctm). th intu, mco l- ofard% ie .u. ~
Jchn L. Cuattre t, \'icu Pr'esiuent - Liab;ti .erwriting
] Amer lcan Nucicar insurcrs J
Effective Date of To f or- a part of this Endorsement Janua ry 1,1938 of certificate No. fN r 12:01 A.M. Standard Time Issued to Boston Edison Company Date of Issue October 19, 1987 For the Subscribing Companies l
I MUTUAL ATONIC ENERCT LIABII.ITT ERWRITERS l
3, .T. h }uma % = !
Endorsenent No. 1 Countersigned by ev ((
l Authorized Rep (es/ptpQ M g ME-V-1 (1/1/86)
i L
MUTUAL ATOMIC EllERGY LIABILITY U!iDERWRIT$RS
!!UCLEAR EllERGY LIABILITY POLICY (Facility Worker Form) herein called the
!MSTER WORKER POLICY CERTITICATE oF I ti S U R A !! C E Certificate !!o, MW-32 Date of Issue Jan. 28 19 88 This is to certify that the insureds named in Item 1 of the Declarations hereof, hereinafter called the "!iamed 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 i DECLARATIotiS Item 1. tiamed Insureds and Addresses:
Boston Edison Company 800 Boylston Street Boston, Massachusetts 02181 i
t 4
1 1
l t ,
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 l cancelled or terminated, whichever first occurs. .
l t
l
'. t MMWPC-1 (1/1/88) Page 1
Item 3. Description of the Facility: ;
Location: All of the premises including the land and all [
buildings and structures known as the Pilgrim fluclear l Power Station situa '
approximately 527.8.}ed acreson a site and consisting located of on the western shore of Cape Cod Bay in Plynouth County, Plymouth. .
Massachusetts approximately thirty eight (38) miles southeast of Boston, Massachusetts anc forty- ,
four (44) miles east of Providence, Rhode Island.
1 Type: Power Reactor (Operating) operator of the Facility: Boston Edison Company 1
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 ,
l Policy and all of the other provisions of the policy relating thereto. ;
, Item 5. Advance Premium $ 4.837.00
- 2 APPLICAT10!i 0F CERTIFICATE This Certificate applies only to bodily injury to a new worker (1) which is caused during the Certificate Coverage i Period by the nuclear energy ha:ard and (2) which is dis- .
I covered and for which written claim is first made against an !
insured under the certificate within the discovery period of :
the Master Worker Policy. .
1 3 i J IllDUSTRY RETROGPECTIVE RATItiG PLA!! ,
All insurance under the Master Worker Policy is subject to .
! the Industry Retrospective Rating Plan in use by the l companies. lio insurance is provided under this Certificate
- unless and until the first tiamed Insured has accepted in writing the Indu
- T ry Retrospective Rating Plan Premium En-1 dorsement and a copy of the signed endorsement has been issued by the conpanies to form a part of this certificate. ;
i MMWPC-1 (1/1/88) Page 2
I 1
l Ill WITNESS WHERECT, the cenpanies 3ubscribing the Master -
Worker Policy have caused this certificate to be executed !
5 and attested on their behalf by the !!anager of Mutual Atomic :
Energy Liablity Underwritert and dulf countersigned by an !
i authori:ed representative.
)
i For the Subscribing Cc=panies of MUTUAL ATOMIC E!iERGY LIABILITY U!!DERWRITERS J. Michael O'Connell, & qager /f By .R ^- ~ g ' N (n_ :ncri:od Agent) msm a sedarv4A4 88L countersigned by: R ((
(Author'1:e9 W @ entative)
This is to certify that this is a true copy of the originnt Certificato bearing the number dosionated hercon, for insuranco coverage under the Nu ' ear Energ/ Liabbity Fcti y (Fctinty \ kers Form) herein cc.Hed the Mastt Wor k er Pohty. 3'q -" dforced by this copy.
John L Quattr - 1, Prea.s <n - Uabil 'derwriting American Nucles insurers ICWPC-1 (1/1/86) Page 3
Nuclear Energy Liability Insurance NUCLEAR ENERGY LIABILITY INSUR ANCE ASSOCIATION ADVANCE PREMIUM AND STANDARD PREMIUM ENDORSEMENT cal.ENDAR YEAR 1988
- 1. ADVANCE PREMIUM: It is agreed that the Advance Premium cue the companies for the period designated above is:
$ 16,663.00 ,
- 2. STANDARD PREMIUM AND RESERVE PREMIUM: In the absence of a change in the Advance Premium 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:
$ 13,330.00 m b +n ecrtify that this is a true co; y of the original Endorsement having the endorsement number find bs .ng made part of the Certificato of Insurarsco bearing the number des!gnate eroon for insuran::e covernga ur@r tro Nuclear Energy Liabillt' oficy (Facility Worksrs aff l
Form). No in ura, John L. Quat, ' 'c'l ,i Vice Prerlder,t - Liabmty underwritinD l
American Nuc! car insurers Effect.ive Date of this Endorse =ent January 1.1988 To form a part of Certificate No. NU-96 12:01 A.M. Standard Ti=e l
Issuod to Boston Edison Company l Deco of Issue January 28. 1988 For the Su ribing Co anies l
By N # ~%
PRESIDENT MARSH & McLS#4AK #4C-l Endorse =ent No. 2 Countersigned by 3 r:
Mn A. /
p//
l NE-1!-2 (1/1/88) l
i 4
Nuclear Energy Liability Insurance NUCLEAR ENERGY LIABILITY INSURANCE 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 Me. ster 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' rules, rates, rating plans (other than the Industry Retrospective Rating Plan), premiums and minimum premiums applicable to this insurance. Standard premium includes elements for prenium taxes, expenses, profit and contingencies, guaranteed cost insurance and estimated reserve premium. The elements of sr.andard premium, other than for premiur. taxes and estimated reserve premium, are not subject to retrospective adjustment; "reserve premium" means that portion of the premium for
- a. Certificate (including reservo 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 cum 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 NELIA, and (2) reserves for losses and expenses as estimated by NELIA, NE-W-1 (1/1/88) Page 1
i 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:
(1) all industry reserve premium for the period from January 1, 1988 through such date, minus (2) 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
I 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 'je a r . If the standard premium exceeds the ad-vance premium paid for that yeer, 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 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 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 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 previded 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.
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- 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 af ter receipt of the endorsement.
When all claims covered by the Master Worker Policy are clocod 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 sun 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
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Policy, the Named Insureds, by acceptance of the Aster 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 Namcd Insureds under a certificate shall be used to pay any overdue reserve premium charges tc such Named Insureds.
7 RESERVE FREMIUM REFUND AGREEMENT Each member of NELIA subscribing the Master Worker Policy for any calendar y3ar, or portion thereof, with respect to which an industry reserve premium refund is determined to be payable thereby agrees for itself, severally and not jeintly, 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-siens of this endorsement.
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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.
Boston Edison Orpany (First Named Insured - Print or Type)
//
Date 11/6/87 By s. .) t- s - /N (Signature offAuthor ed officer)
'Ihanas J. thy, Senior Vice President & Treasurer (Print or Type Name and' Title of Of ficer)
This is to certify that this is a true copy of the original Endorsem having the endorsement number and being made part of the of Incurarece bear!ng the number desigrated hgeon for in5Jrance coverage under the Nuclear Energy Liablilty Epcy (Facility W crc f -
Form). No insu, nce la ffordo le John L Quattro ' 'i,'Vico Pressent - Liabilit U uerwriting American Nuclear nsurers Effective Date of To form a part of this Endorsement January 1, 1988 of Certificate No. NW-96 12:01 A.M. Standard Time Issued to Boston Edison Company Date of Issue October 19, 1987 For the scribing companies By ,i M[t*d M INC.
Endorsement No. I Countersigned by BYi f(( 4 vgt Pet 90 TNT NE-W-1 (1/1/88)
NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION NUCLEAR ENERGY LIABILITY-POLICY (Facility Worker Form) herein callec the MASTER WORKER POLICY CERTIFICATE OF INSURANCE Certificate No. NW-96 Date of Issue Jan. 28. 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 Nuclear Energy Liability Insurance Associa-tion 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:
Boston Edison Company
[
800 Boylston Street Boston, Massachusetts 02181 5
Item 2. Certificate Coverage Period:
Beginning at 12:01 a.m. January 1, 1988 and ending i
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.
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Item 3. Description of the Facility:
Location: All of the premises including the land and all buildings and structures known as the Pilgrim Nuclear Power Station situated on a site corisisting of approximately 527.81 acres and located on the western shore of Cape Cod Bay in Plymouth County, Plymouth, Massachusetts approximately thirty-eight (38) miles southeast of Boston, Massachusetts and forty-four (44) miles east of Providence, Rhode Island.
Type: Power Reactor (Operating)
Operator of the Facility: Boston Edison 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 cither provisions of the policy relating thereto.
Item 5. Advance Premium: S 16,663.00 2
APPLICATION OF CERTIFICATE This Certificate applies only to bodily injury to a new worker (1) which is caused during the Certificate Covarage 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. 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.
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IN WITNESS WHEREOF, the companies suoscribing the Master 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 ccunter-signed by an authorized representative.
For thc Subscribing Conpanies of NUCLEAR ENERGY LIABILITY INSURANCE ASSOCIATION Burt C. Proom, P*esident By .T .
N (I thorized A'cje'nt.)
MAR $H & M BYi Countersigned by: -
(Authorized Representative)
This is to certify tha' this is a truc copy of t'to original Cert;ficatts b0aring the number designated hercon,rkers fori Form) is ranco coverage u herein ths Nuclev Eno:gy Liability Policy (Facility- _ iforded f by thiscopy.
called the Mast Worker Pcticy. Noe derwriting John L Cuatt 't --i Pres ant - Uabi American Nuclea irisurers i
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