Pros And Cons Of Price Anderson Act

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The Price-Anderson Nuclear Industries Indemnity Act (Price-Anderson Act) was first signed into law on September 2, 1957. The act serves as an amendment to the 1946 Atomic Energy Act (AEA), intended to stimulate development of the private nuclear industry by establishing limits of liability and indemnifying the nuclear industry against liability from a nuclear incident. Additionally provides compensation coverage for the general public in case of an incident. (Hore, 2009). The Price-Anderson Act places an increasingly disproportionate liability on the taxpayer in the event of a nuclear incident, whether accidental, from negligent or malicious acts, effectively protecting the industry regardless of fault. The Act provides 3 tiers of indemnity.

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