NRI Annual Review 2023 - Flipbook - Page 12
OUR HISTORY
The mid-1950s saw
the birth of the civil
nuclear age. To provide
adequate insurance
for the civil nuclear
energy industry, it was
recognised that the
insurance market had
to do things differently.
The sheer nature and
size of the potential risk
meant it was beyond
the resource of any
one national insurance
market or individual
insurer to provide
complete protection.
Originally established
as the British Insurance
(Atomic Energy)
Committee, NRI was
formed in 1956 by the
UK Atomic Energy
Authority, British
Insurance Association
and Lloyd’s of London
to provide specialist
insurance to support
the operation of West
Cumbria’s Calder Hall
nuclear reactors and
other reactors then
being developed.
In 2003, NRI was formed
in its current structure
as a company, regulated
by the Financial
Conduct Authority and a
coverholder at Lloyd’s.
1950
1956
2003
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