Mumbai:
Even as the threat of nuclear radiation exposure becomes more real in light of the meltdown in Japan's Fukushima Daiichi plant, MiD DAY has found that no insurance company in the country covers the specific outcomes of such an eventuality.
'Nuclear radiation' is, in fact, a standard exclusion in the text of most policies.
A spokesperson for Tata-AIG Life Insurance Company said, "We do not have any products that cover radiation and I am sure no other insurance company does either." When this reporter asked him if any such policies were in the offing, he replied in the negative.
The Insurance Regulatory Development Authority (IRDA), too, does not have any specific guidelines for insurance companies on radiation-related cover.
S Bhattachraya, Senior Assistant Director, IRDA, said, "There is no specific head for radiation-related claims. In case of deaths due to radiation, the claimants' family is entitled only to a death claim and not an accidental death claim, which is usually higher."
A senior IRDA official, who did not wish to be named, said, "It is not advisable to have a separate head for radiation as the insurance companies may find it difficult to clear the claim amounts arising from radiation resulting from a nuclear attack."
"Nuclear radiation is a standard exclusion in most policy wordings. However, indirect results of radiation such as cancer, which may occur over a period of time could be covered under medical policies," said an official from ICICI Lombard.
So, doesn't the lack of insurance make those working in nuclear plants even more vulnerable? "No," says R R Kakade, general manager of corporate communication at Nuclear Power Corporation of India Limited (NPCIL), whose employees man the 20 nuclear plants in the country.
"We have insurance only for secondary cycle system like turbines and generators and radiation risk is not covered. Employees of NPCIL are, however, entitled to claims and benefits stated in the Atomic Energy Act," he said.
R Bhattacharya, secretary, Atomic Energy Regulatory Board said, "Our staff does not operate any nuclear plant and, hence, are not exposed to radiation. When AERB officials visit a nuclear plant for inspection, they carry a thermo-luminescent dosimeter, which helps us monitor external Gamma radiation.