The existing American law, the Price-Anderson Act, provides coverage of up to $9 billion through assessments on utilities.
He said the administration also wanted to renew the Price-Anderson Act, which limits nuclear plant operators' liability in case of an accident.
The House passed its version renewing the Price-Anderson Act last year.
To address these issues, Congress introduced the Price-Anderson Act in 1957.
Over the first 43 years of the Price-Anderson Act to 2000, the secondary insurance was not required.
The specific issue before Congress is an extension of the Price-Anderson Act, passed in 1957 and renewed at 10-year intervals since then.
The Price-Anderson Act, approved in 1957, in effect created a government-run insurance pool for the industry.
He cited the Price-Anderson Act of 1954 dealing with atomic energy.
If so, why not repeal the recently renewed Price-Anderson Act, which shields the nuclear industry from full liability?
That's what the Price-Anderson Act was all about (Google it.)
