Radioactive Contamination Not Covered by Insurance

The tab will be entirely on the Japanese government.

Via BNP Paribas analyst Rafael Villarreal

When insurers say a risk is uninsurable, it means the government will end up picking up the tab. Since the 1950s, to protect their solvency from the potential effect of having to pay full policy limits under every contract, insurers have excluded radioactive contamination from those classes where it was deemed uninsurable. The radioactive contamination of third party property is not insurable by conventional means, nor are attacks with nuclear weapons … The governments provide compensation (e.g. Chernobyl). The amounts involved have exceeded many times over the capacity of the nuclear insurance industry, which confirms that the decision to exclude it was the right one.