Tokyo Power No Insurance???, page 1
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Topic started on 8-2-2012 @ 05:00 PM by omegacorps
www.japantimes.co.jp...

No more insurance Tokyo Electric Power Co. will deposit ¥120 billion with the central government in place of insurance coverage after failing to extend its contract covering the Fukushima No. 1 nuclear plant, according to sources. Tepco has been seeking, so far unsuccessfully, to reach an agreement with a foreign insurer.



reply posted on 8-2-2012 @ 09:38 PM by Arbitrageur
Originally posted by omegacorps
www.japantimes.co.jp...

No more insurance Tokyo Electric Power Co. will deposit ¥120 billion with the central government in place of insurance coverage after failing to extend its contract covering the Fukushima No. 1 nuclear plant, according to sources. Tepco has been seeking, so far unsuccessfully, to reach an agreement with a foreign insurer.
I recall the state of Ohio had a car liability insurance provision similar to this...if you didn't want to get liability coverage, you didn't have to, as long as you put up a large sum of money with the state government.

120 billion yen seems like far too small an amount for this...I thought the liabilities were already in the trillions of yen?

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