Providing insurance for a Safe, Sustainable & Reliable Energy Source
Nuclear Electric Insurance Limited (NEIL), located in Wilmington, Delaware, insures domestic and international nuclear utilities for the costs associated with interruptions, damages, decontaminations and related nuclear risks. NEIL was founded in 1973 with the formation of Nuclear Mutual Limited (NML) in Bermuda. NML was formed by a group of US electric utilities as an alternative to the commercial nuclear insurance market.
NEIL was formed in 1980 to issue excess property and accidental outage policies to complement the policies being issued by NML. In 1988, the Company moved its operations from Bermuda to Wilmington, Delaware, and, in 1997, NML was merged into NEIL. In 1999, the Company expanded operations by launching NEIL Overseas in Dublin, Ireland.
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.