Why in News?

• The Government has created an Indian Nuclear Insurance Pool (INIP) in June 2015, a union minister informed in Lok Sabha.

Indian Nuclear Insurance Pool:

• M/s. General Insurance Corporation of India (GIC-Re), along with several other Indian Insurance Companies, have launched the Indian Nuclear Insurance Pool (INIP) with a capacity of ₹1500 crore. This aims to provide insurance to cover the liability against accidents as prescribed under Civil Liability for Nuclear Damage (CLND) Act, 2010.
• This has addressed issues related to Civil Liability for Nuclear Damage (CLND) Act and had facilitated commencement of work in setting up new nuclear power projects.

Nuclear Power in India:

• The present nuclear power capacity is 6780 MW comprising of 22 reactors.
• There are 9 reactors with a capacity of 6700 MW (including 500 MW PFBR being implemented by BHAVINI) under construction.
• The Government in 2017 has also accorded administrative approval and financial sanction of 12 nuclear power plants totalling to a capacity of 9000 MW.
• On their progressive completion, the installed nuclear capacity is expected to reach 8180 MW by 2020 and 22480 MW by 2031.