Insurance Legislation On Nuclear Risks Is Developing

Turkey's goal of nuclear-based energy production, which has been expressed since the 1970s, has become concrete in recent years and has started to yield results. The Akkuyu Nuclear Power Plant (Akkuyu NGS), established through cooperation agreements with the Russian Federation, officially gained nuclear power plant status on 27.04.2023; and the first production is expected to commence in 2024. Two more nuclear power plants are currently in the planning stage.

Meanwhile, the legal framework for the sector is slowly taking shape. In this context, two regulations, the Regulation on Liability Insurance and Security for Nuclear Risks ("Nuclear Insurance Regulation") and the Regulation on the Operating Procedures and Principles of the Nuclear Insurance Pool ("Nuclear Insurance Pool Regulation") entered into force simultaneously on 19.10.2023.