This Agreement excludes Nuclear Energy Risks whether written directly or by way of reinsurance or via pools or Associations.

Under this Agreement the term “Nuclear Energy Risks” means any first or third party insurance (other than Workers’ Compensation or Employers’ Liability) in respect of:

(ⅰ)nuclear reactors and nuclear power stations or plant.

(ⅱ)any other premises or facilities concerned with;

(a) the production of nuclear energy or

(b) the production or storage or handling of nuclear fuels or nuclear waste;

(ⅲ)any other premises or facilities eligible for insurance by any local Nuclear pool or Association but only to the extent of the requirements of the local pool or Association

(ⅳ)nuclear or radioactive fuel, or nuclear or radioactive waste.

However, this Exclusion shall not apply

(a) to any insurance or reinsurance in respect of the construction, erection or installation of buildings, plant and other property (including contractor’s plant and equipment used in connection therewith);

(ⅰ)for the storage of nuclear fuel-prior to the commencement of storage

(ⅱ)as regards reactor installations-prior to the commencement of loading of nuclear fuel into the reactor, or prior to the initial criticality, depending on the commencement of the insurance or reinsurance of the relevant local Nuclear pool or Association

(b) to any Machinery Breakdown or other Engineering insurance or reinsurance not coming within the scope of (a)above, nor affording coverage in the “high radioactivity” zone.

(c) To any insurance or reinsurance in respect of the Hulls of ships, or aircraft or other conveyances.

(d) To any insurance or reinsurance in respect of loss of or damage to (including any expenses incurred therewith) nuclear or radioactive fuel or nuclear or radioactive waste whilst in transit or storage as cargo, other than while being processed or while in storage at the reactor installation or any other final destination concerned with production, storage or handling of nuclear fuel or nuclear waste.