Patent ID: 7050985
Filing Date: 2006-05-23
Classification: G06Q,Y04S

Abstract:
1. A method for providing financial assurance for decommissioning a nuclear power facility via an insurance policy, the method comprising the steps of: supplying, by an insurer, the insurance policy to a trust, said insurance policy includes a predetermined monetary premium payable to said insurer; receiving said premium by said insurer from said trust; and paying by said insurer, in accordance with terms of said insurance policy, actual decommission expenses to said trust between a policy inception date and a policy termination date, to provide financial assurance for decommissioning said facility wherein said premium is calculated by: (a) determining a plurality of scenarios, wherein each scenario is based on said decommissioning starting on a different time schedule, and wherein each scenario has a monetary sum; (b) determining a net present value (NPV) of expected decommissioning expenses for each said scenario; (c) determining a risk transfer element for each said scenario, said risk transfer element being an NPV of unexpected expenses multiplied by a probability of actual occurrence; (d) determining insurer expenses for each said scenario, said insurer expenses being an NPV of expected expenses incurred by an insurer of said facility; (e) adding the monetary value of steps (b), (c), and (d), for each scenario, to calculate said monetary sum of each said scenario; and (f) adjusting said monetary sum of each said scenario, so that each said monetary sum is substantially equal,