NRI Annual Review 2024 - Flipbook - Page 12
SMR development
In addition to supporting the
construction activities required
to advance new nuclear, NRI
is keeping a close eye on the
evolving technology. As SMR
design, research and development
gathers momentum, NRI’s
engineers are maintaining a
watching brief to ensure they
are well positioned to advise and
protect clients in this space. As
Jonathan Cooper, Engineering
Surveyor at NRI, explains:
“Our priority is to understand
where the technology is going
and to anticipate the frontrunners
as the list of candidates narrows.
A lot of the emerging SMR
models we’re seeing propose
miniature versions of proven
powerplant technologies, such
as light-water reactors. Others
are using ceramic fuels, TRISO
fuels or molten salt as their
primary cooling agent or heat
transfer mechanism – things that
haven’t been done before. So,
for us as engineers it’s extremely
exciting. The frustrating aspect
is that we can’t visit all of these
technologies; we can’t see them
or touch them. So, we’re just
watching and trying to stay one
step ahead by making sure
we’re on top of everything
that’s happening.”
Many of the SMR designs NRI has
been monitoring are supremely
ef昀椀cient. And some of them, if
they come to fruition, will be
passively safe, as they won’t
involve the extreme temperatures
or pressures of large-scale nuclear
reactors. But this doesn’t mean
they will be free of the security
risks linked to 昀椀ssile materials
and nuclear plants. And currently
the market hasn’t worked out
how to address these risks, as
Jonathan Cooper observes:
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The challenge ahead will be to
help some of the developers –
who may not grasp nuclear in
its entirety – comprehend the
levels of safety, security and
regulation required to license
and then operate a nuclear
facility. There’s de昀椀nitely a lack
of understanding around these
issues in certain quarters. Yes, for
microreactors in remote areas,
set-up and deployment will be
remarkably quick and simple,
with days – rather than decades –
from installation to heat or power
generation. But these units will
still be using uranic materials and
the security considerations won’t
be any less.”
Managing expectations, and
promoting understanding of, and
engagement with, regulatory
processes will therefore be
crucial in the coming years. To
support these efforts, NRI is
working with other insurance
companies to combine site
surveys and minimise the impact
on facilities. Indeed, the many
visits that a nuclear power plant
is subject to on a routine basis
can distract from the smooth
running of a facility. In the UK
for example, a single site could
receive visits from multiple
organisations in a single year,
including the World Association
for Nuclear Operators (WANO),
the International Atomic Energy
Agency (IAEA), the Of昀椀ce for
Nuclear Regulation (ONR), the
Health & Safety Executive (HSE),
as well as insurers and internal
benchmarking bodies.
As Jonathan Cooper suggests:
“These visits and surveys are
essential, but they can distract
from day-to-day operational
tasks. We’re looking at how we
can work with as many agencies
as possible to streamline these
processes and align them more
closely with the way nuclear
facilities are developing. With the
predicted volume of SMR sites
that will need to be assessed,
these seem like important
conversations to be having. At the
same time, regulators will need
to ensure they have capacity to
handle the in昀氀ux of applications
for site licensing that will come
as SMRs and MMRs transition
from concept to operation.”
From an insurance perspective,
NRI’s focus is to elicit as much
information as possible from
those developing SMRs and other
new nuclear products. The aim,
as Simon Wilcock concludes, “is
to push through the challenges
as these technologies are in
development; what we need to do
is provide assistance and leverage
industry oversight to get to a
level of comfort, both technically
and commercially, that the risks
encountered are insurable risks.”
