FOR SMR developers, project sponsors, module suppliers and prospective owners
Start with the specific design and authorization
Small modular reactor projects are not interchangeable. The NRC’s advanced-reactor resources distinguish technologies and licensing activities; insurance planning should use the actual project, design and authorization status. Do not represent a proposed facility, an application or a supplier announcement as an operating licensed plant.
Identify the project company, prospective licensee, designer, module manufacturer and site contractors. Describe which activities are funded and authorized now and which depend on later decisions. Early site works, factory production and nuclear-related installation may proceed under different contracts and timelines. The submission should make those boundaries visible rather than assume a single construction value describes the entire development exposure.
Modular delivery creates custody and concentration questions
Factory fabrication can concentrate substantial project value away from the eventual site. Review who owns work in progress, how it is valued and when risk transfers under the supply contract. Include storage, testing, transportation and temporary laydown in the insurance review, with particular attention to multiple modules or critical components at one location.
A supplier delay or design revision without physical damage is different from an insured transit or property loss. Examine the actual damage trigger and scope of any delay protection. A module’s replacement cost may not capture the project consequence of losing a production slot, and contractual remedies may be limited or unavailable after a supplier’s financial distress.
Keep nuclear and conventional arrangements distinct
Conventional builders risk, liability or professional policies should not be presumed to address nuclear hazards. The project needs specialist review of nuclear exclusions, applicable financial-protection arrangements and the point when nuclear material or nuclear operations change the risk. The requirements and available protection must be confirmed for the particular facility and stage.
This resource does not establish Montridge’s authority to arrange specialized nuclear insurance. A developer should coordinate the conventional program with qualified nuclear insurance, legal and regulatory advisers. Document which parties and activities each arrangement addresses, and avoid treating a general certificate or broad project description as evidence that the nuclear-related exposure has been resolved.
Use a milestone-based insurance register
Create a register for design, procurement, fabrication, transport, site installation, testing and operation. For each milestone, identify the insured interest, responsible party, required notice and unresolved assumption. Track changes in schedule, design and ownership so that the insurance team receives information before a materially different activity begins.
The underwriting file should include contracts, licensing status, values, quality controls, supplier dependencies and the basis of the project schedule. Separate first-of-a-kind technical uncertainty from insurable accidental loss. A credible register gives lenders, sponsors and contractors a common account of the project’s protection while preserving the distinction between an insurance review and approval of the technology or regulatory pathway.
Operational exposures & coverage review
These review points are educational interpretation, not promises of insurance coverage.
| Exposure | Insurance review |
|---|---|
| Factory concentration | Schedule work in progress and module custody transfers. |
| Milestone change | Review insurance before material or operating status changes. |
| Technology risk | Separate design and commercial uncertainty from accidental loss. |
Questions for your next review
- Which activities are authorized and underway now?
- Who insures modules during fabrication, storage and transit?
- When is specialist nuclear financial-protection review required?
Connect this topic to your program
Bring the operational details above into a coordinated review of your contracts, loss history and actual policy wording. Explore Montridge infrastructure engineering insurance services for the related brokerage service.
Source references
Primary-source background informs the technical discussion. Insurance review questions are educational interpretation; a source link does not establish coverage or certify compliance.
Advanced-reactor projects differ in technology and licensing status.
Scope: United States; technical background and applicable federal framework · Source reviewed 2026-11-01
NRC licensing addresses authorized construction, operation, materials activities and decommissioning.
Scope: United States; technical background and applicable federal framework · Source reviewed 2026-11-01
US nuclear public liability and onsite financial protection use specialized arrangements; ordinary commercial insurance is not a substitute.
Scope: United States; technical background and applicable federal framework · Source reviewed 2026-11-01
Prepared November 1, 2026. Confirm current requirements and their application to your work before relying on them. Specific insurance outcomes require review of the complete policy and endorsements.