NRI Annual Review 2024 - Flipbook - Page 5
INTRODUCTION
Small Modular Reactors (SMRs)
continue to ‘crowd’ the industry
press and forums. They also
dominate discussions for NRI
as we speak to reactor vendors,
contractors, developers and
owners, the key question in
these conversations being
“what will nuclear insurance
look like for me?”.
In response to growing demand within
the nuclear sector, NRI is excited to
be developing a Construction Binding
Authority with the London market
capacity, which will allow us to
underwrite business in this class. NRI’s
Construction Binding Authority will
be aimed at SMRs and AMRs, as well
as other nuclear projects including
medical radioisotope plants; research
reactors; fuel supply chain and nuclear
waste handling/processing facilities;
and Fusion. It is an exciting time in the
nuclear sector and NRI is committed
to supporting existing and new clients
with their future plans. The prospect
now exists for NRI to offer seamless
cover solutions for projects progressing
from civil construction into nuclear
commissioning, at which point our
traditional nuclear covers within
the insurance pooling system come
into effect.
As our commitment to travel for
surveys, client and pool meetings
remains, we continue to think
responsibly about our means of travel,
taking the opportunity to combine trips
and use the most sustainable forms
of transport, such as trains rather
than planes. These efforts are now
a conscious part of our thinking and
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NRI will continue to offset the carbon
emissions we cannot avoid in the
delivery of our day-to-day business.
I am pleased with the way that
Frontiers, chaired by Chris Lambert,
a consultant to NRI and founder of
Westminster Energy Forum, has become
a regular feature of our communication
with members, clients, pools and
many other stakeholders. Frontiers has
become a wonderful way for NRI to
attract real specialists to share their
knowledge and expertise. It would
not have been possible for Frontiers to
become so global had it not been for our
decision to run it virtually. Its success
is re昀氀ective of the positive dialogue
and engagement that exists across the
nuclear industry.
I hope you enjoy this report.
Mark Popplewell
Managing Director, NRI
