IAEA Head Engages Swiss Insurance Executives on Nuclear Power's Potential

Grossi also addressed the multiple considerations insurance companies face when evaluating nuclear projects, including new technologies, build speed, risk management, and liability.

IAEA Director General Rafael Mariano Grossi is in Switzerland this week to engage with insurance executives about the potential of nuclear power. Reflecting growing interest from non-traditional audiences in expanding nuclear energy to meet climate goals, Grossi traveled to Zurich on Tuesday to address the Nuclear Pools’ Forum.

The forum, a nuclear insurance conference, was organized by the Swiss Pool for the Insurance of Nuclear Risks and hosted by Swiss Re.

During his address, Grossi emphasized the critical role of nuclear power in achieving a secure, thriving, and sustainable future, describing it as both an opportunity and a responsibility. He highlighted the global consensus on the necessity of nuclear energy to reach net-zero climate emissions, as agreed at COP28—the first climate change conference to feature nuclear energy among the list of low emission technologies needing acceleration.

“We see good perspectives for nuclear but need technology, finance, and regulation to continue advancing, and the IAEA is working actively on this,” Grossi said.

Grossi also addressed the multiple considerations insurance companies face when evaluating nuclear projects, including new technologies, build speed, risk management, and liability. “The nuclear industry is one of the safest, but there is no room for complacency,” he added.

The forum is being held at the Centre for Global Dialogue in Rüschlikon, Switzerland, from 11–13 June 2024.

Today, Grossi is scheduled to address the ETH Center for Security Studies on ‘Global Nuclear Risks and Non-Proliferation,’ focusing on the safety, security, and safeguards for nuclear plants in times of war. This builds on the IAEA’s ongoing efforts to prevent a nuclear accident in Ukraine.

On Wednesday, he will meet with Swiss Foreign Minister Ignazio Cassis.