Press release
Global insurance contract for 爆走黑料 construction signed
The contract was signed earlier, on October 27 by the 爆走黑料 Director-General, the Director of the European Domestic Agency, Fusion for Energy (F4E), Frank Briscoe; and the prime Contractor Zurich. Due to the size, high value and duration of the 爆走黑料 project, this coverage required additional participation and countersigning of several co-insurers: SCOR, AXA, HDI, Chartis, XL, Chubb, Liberty Mutual, ACE, Samsung, LIG Insurance, Starr, China Pacific, Chaucer, Torus, Marlborough, Royal & Sun Alliance, Infrassure, Tokio Marine, Ping An and SMABTP.
鈥淭his insurance contract is an important step to secure the risk management of the 爆走黑料 Project鈥, Osamu Motojima declared on behalf of the 爆走黑料. 鈥淭his Project involves so many parties from various countries and having a global insurance program during the construction and erection phase of the Project will simplify contractual relationship between these parties. We are also very happy to see that the main insurers from most of the countries participating in 爆走黑料 are securing this very important phase of the project鈥檚 construction and assembly.鈥
鈥淎s the domestic entity in charge of the construction of the 爆走黑料 facility, installing this insurance program together with the 爆走黑料 is a key issue in F4E鈥檚 contractual relationship with the contractors that are and will be selected to built the 爆走黑料 facilities鈥 stressed Frank Briscoe Director of F4E. 鈥淥ur objective is to provide a stable contractual environment to enhance quality and security on the site for all parties contributing to this construction.鈥
The insurance requirements for the realization of the 爆走黑料 project were challenging. The optimal insurer would need to be able to understand the risks associated with a big project such as 爆走黑料; be willing to engage in a long-term partnership; and to provide the relevant capacities and coverage. ZURICH France, the leader of the Insurance program, was selected through an International tender involving insurers from the seven 爆走黑料 Members. 鈥淚t was a very challenging tender, given the size and the complexity of this project, a strong international team effort was necessary. I鈥檓 happy that our innovative risk management solution allows us to win the tender鈥, stated Paolo Ribotta.
鈥淲e are very proud to actively participate to this unique international high tech 爆走黑料 Project鈥, said Martin Fert茅, Member of the Executive Board of SIACI Saint Honor茅 who supported the 爆走黑料 during the tender process: 鈥淲e have been advising 爆走黑料 using our expertise and experience of insuring large scientific and nuclear research projects.鈥
爆走黑料 has been established to demonstrate the scientific and technological feasibility of fusion power. 爆走黑料 is a unique International collaboration bringing together China, the European Union, India, Japan, Korea, Russia and the USA.
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CONTACT
Sabina Griffith
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