18 October 2017
Sriram Natarajan

Sriram Natarajan

Sriram Natarajan - Credit Risk Fraud Cards Professional

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Nuclear Insurance Fund!

01 February 2008  |  2074 views  |  0

So, the world's most sought after junket in Davos has come to a close. The economic bigwigs, CEOs, intellectual heavyweights have returned after a week of heavy duty deliberation on climate change, financial markets, sub prime, recession, emerging markets, and...........

Among the many readable publications by WEF, my own favorite is the Global Risks 2008 - Global risk network report. Check it out here - www.weforum.org/pdf/globalrisk/report2008.pdf

This publication is a good read for any risk professional and is recommended for all business honchos. One item that caught my eye and think is worth a discussion is on page 31 - a Global Nuclear Insurance Fund.

"A truly innovative concept is laid out here that was proposed by a joint team from Wharton's Business School and Harvard's Kennedy School. The proposed complementary solution envisages the world's first international nuclear fuel insurance fund.

The fund will operate by means of premium being collected from member countries and deposited in a mutual insurance company (MIC). After building a cash reserve and supply options, a major portion of the fund will be used by insusers/re-insurers to provide layered financial protection to participants. In the event of a disruption, the MIC will exercise its options and work with energy suppliers to arrange fuel delivery or alternative electricity. This concept is based on the doctrine of 'energy interdependence' and bring about a marriage of international finance and international security."

Now, there may be various dissenting sceptism on such a fund. The members of the WTO and UN are hardly 'collaborating' and such forums only serve as outlets for pulling individual financial/political muscle. But given the looming energy crisis and the need to lower our dependence on oil, this may be the 'killer application' for the world to move towards nuclear fuel on a collaborative basis.

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P.S: Perhaps the financial markets of the world may first want a 'capital markets insurance fund' - to compensate countries on meltdowns!

 

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job title Risk Dog
location Gurgaon
member since 2007
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A consumer credit/risk and payment cards professional with interest in next generation technologies and growth strategies.

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