On 13 June 2008, Switzerland approved the revised Nuclear Energy Third Party Liability Act, subsequently ratifying the international Paris and Brussels Conventions. The total revision of the Nuclear Energy Third Party Liability Act increases the level of compulsory insurance coverage for nuclear accidents from CHF 1 billion to € 1.2 billion. It also greatly simplifies the claims procedure and so better protects victims' interests.
On 25 March 2015, the Federal Council approved the revised Nuclear Energy Third Party Liability Ordinance. The Ordinance sets the minimum amount to be covered by private insurers at CHF 1 billion and specifies the risks which insurers are permitted to exclude. It also describes the method for calculating federal insurance premiums. Federal insurance covers claims up to the sum of € 1.2 billion which are not covered by private insurance or which exceed the private insurance coverage.
The totally revised ordinance also sets the coverage for nuclear research facilities and for the federal interim storage site at € 70 million and for certain types of transport of nuclear material at € 80 million. In addition, it stipulates that nuclear facilities and the transport of nuclear material must be insured separately.
The new nuclear energy third party liability legislation cannot come into force until the revision protocol to the Paris Convention has been ratified by at least two-thirds of the 16 signatory states. Thirteen of these 16 contracting parties are members of the European Union (EU). The Council of the European Union has decided that all the EU member states concerned must jointly ratify the Paris Convention. The revised Paris Convention is expected to come into force on July 1st 2018 at the earliest.