Marsh secures insurance for advanced nuclear plant
Marsh Risk secured insurance coverage for TerraPower’s Kemmerer Unit 1 in Wyoming, marking the first time a commercial-scale advanced nuclear power plant in the US has accessed the commercial insurance market.
The placement brings together capacity from US, London, and Bermuda insurers alongside traditional nuclear pools and risk retention vehicles, supporting the construction phase of the Natrium reactor. The program is described as oversubscribed, signaling strong market appetite for next-generation nuclear risks.
TerraPower’s Natrium design combines a sodium-cooled fast reactor with integrated energy storage, allowing output to scale from 345 MWe to 500 MWe during peak demand. The project is being developed in partnership with the US Department of Energy and is expected to be the first utility-scale advanced nuclear facility of its kind in the country.
For Marsh , the placement reflects ongoing efforts to expand insurability for nuclear risks by enabling direct participation from commercial insurers, positioning advanced nuclear as a more financeable clean energy asset class.
“Marsh has worked steadily for 70 years to enhance the insurability of nuclear energy assets. By expanding access to all available capacity and enabling direct underwriting by commercial insurers, we are significantly enhancing the insurability and bankability of next-generation nuclear projects. Nuclear risk is insurable risk, and this insurable risk can now be financed more efficiently by our clients.” – Michael Kolodner, US Energy & Power Practice Leader, Marsh Risk.
“TerraPower is delivering a commercial-scale advanced reactor power plant, and insurance is a key enabler in bringing that product to market. We are excited to see the resounding support from the insurance market for the construction of the first Natrium reactor, as evidenced by the oversubscribed insurance program for Kemmerer Unit 1.” – Eric Williams, Executive Vice President and Chief Operating Officer, TerraPower.
