Description of activities
ELINI is a Belgian mutual insurance association formed in December 2002 to provide insurance capacity for nuclear liability risks to its Members.
The present Members of ELINI include nuclear facilities in Belgium, Canada, Czech Republic, Finland, France, Germany, Great-Britain, Hungary, Italy, Slovak Republic, South Africa, Romania, Spain, Sweden, Switzerland and the Netherlands.
On October 19, 2018, A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to ELINI. The outlook assigned to both ratings is stable.
You can download the entire A.M Best publication here.
The capacity provided by ELINI is independent of that provided by the various nuclear Pools.
The main benefits to Members of ELINI include:
- Additional insurance capacity in view of the Revised Paris and Brussels Supplementary Conventions.
- Alternative insurance capacity for terrorism cover and 30 years prescription period. Potential for contribution savings.
- Information exchange and data centre for nuclear insurance matters.
Underwriting & Claims Handling
ELINI’s current portfolio is based on nuclear liability risks cover, in accordance with the decision of the Member, with the existing Pools and any other markets as coinsurer, reinsurer or leader with the exception in those countries where a 100 % policy is taken out by the Member.
The prices of the insurance coverages are in accordance with own rating tables so that Members of the Mutual will derive immediate benefit from reduced contributions.
Since a few years ELINI is working on a rating model, based on TPL survey on-site.
In 2011 the Board of Directors agreed to link the results obtained from these surveys to the contribution calculation. The strengths and weaknesses of a site will be incorporated in the contribution calculation and will represent an incentive for each Member to improve the site safety.
This model is applied as of January 1st, 2012.
If there is an incident of offsite release of radiation, ELINI will offer its services to, and in close collaboration with the local competent Authority and its Member, and act in accordance to the instructions given and the expectations formulated by them.
It is ELINI’s view that, in such a crisis situation, the entire insurance market should show solidarity. As an insurer, ELINI will contribute to the cost in accordance with provisions of the Member’s insurance policy.
In order to be prepared for a potential nuclear incident, ELINI decided to develop a unique web based platform for claim handling allowing to register claims, manage claims and report in a detailed way to all parties involved and this both on a national and transboundary basis.
ELINI contracted with highly specialised companies for the set-up of dedicated call centres and dispatching of claim experts and loss adjusters. The individual approach of the Members allows ELINI to take into consideration their expectations.
The implementation of the system is realised in close collaboration with the Member having decided to organise its post incedental management together with ELINI.
Article 25 of the Articles of Association provides for additional contributions from Members if required to meet claims.