NEIL Operations Update Regarding Coronavirus
Effective March 24, Delaware Governor John Carney has ordered that all non-essential businesses in Delaware be closed or work remotely through May 15. While Insurance carriers such as NEIL are designated as essential businesses to which the Order does not apply, we have made the decision to extend the closure of NEIL’s office, and to continue having Staff work remotely, until Monday, April 27, 2020. We are pleased with how Staff have adapted to a remote work status, maintaining continuity in critical operations and sustaining engagement and service to the Membership as we all work through this challenging period.
As you are aware, the disruption and volatility we are experiencing in the financial markets is of an unprecedented nature. We have been actively engaged with the NEIL Board of Directors, and the Board Finance and Risk Committee, and have taken steps to mitigate further downside exposure in the markets, ensuring our ability to maintain surplus at a level consistent with our stated mission. Rest assured that NEIL remains financially strong and well positioned to continue to serve its Members.
Core nuclear renewals are proceeding as planned, the Policyholder distribution of $700 million will be paid on Friday, March 27, and we continue to receive and support insurance renewals in our Member Conventional, non-core programs.
Loss Control continues to monitor plant activities through interface with our Plant Contacts. On-site Plant Evaluations will only be performed in the event of an emerging risk that cannot be dealt with remotely. In the interim, in-office plant evaluations will be performed based on data submittals by the Members.
We will continue to monitor developments and keep you informed, but please reach out to a member of your Service Delivery Team, or your primary point of contact at NEIL, with any feedback, questions or concerns.
On behalf of the entire NEIL Team we hope everyone remains safe and healthy!
Bruce A. Sassi
President and CEO
NEIL believes nuclear power is a vital energy solution. We enable nuclear power by embracing mutuality and pursuing excellence in insurance and loss prevention.
We fulfill our continuing core responsibility of insuring our Members' nuclear risks by:
- Maintaining the financial strength to cover two full-limit losses.
- Promoting industry risk-management and safety practices.
- Providing value and equitable treatment.
- Prudently pursuing opportunities that serve the Membership.
Consistent with the principles of a mutual insurance company, our employees and Board of Directors strive to meet our Members' evolving needs and represent the interests of all Members by treating them fairly and equitably in matters of the Company, including financial dealings and Member representation.
The Company, its employees, and members of the Board of Directors will treat each other, and all others with whom we interact, with respect, honesty and fairness. We will maintain the highest ethical and professional standards in all areas of our business and respect the confidential and proprietary information of our Members.
We will maintain our financial strength through sound strategic planning, prudent investments, a disciplined financial decision process and demonstrated financial accountability. We will maintain our personnel strength by creating an environment that encourages employee initiative and diversity among individuals, and enables each employee to perform successfully and grow professionally.
Excellence requires personal commitment on the part of each individual involved with NEIL and we pursue this through a proactive approach to all aspects of our business. Each employee commits to achieve excellence and to respect the Company and each other in all matters.
We will foster teamwork with our Members and business partners by effective communications and by seeking their participation on matters affecting the Company. We are also committed to being responsible and active members of our community, and will team with others to build a strong community that produces a positive environment beneficial to businesses and individuals.