Thank you, Mr. Chair, Mr. McCauley, and colleagues.
Let me see if I have this clear. This $650 million is not an arbitrary number that has been arrived at. I would assume it is based on a number of factors, and the most important would probably be the amount of risk the insurance companies were prepared to apportion to the nuclear industry in this case. They're not just insuring nuclear plants, but they're spread over a lot of different types of insurance.
I would think, at this time, that the $650 million is where the insurance companies are prepared to go, and based on the risk assessment that would have been done, the government is satisfied that it would justify the $650 million in coverage.
In reference to Mr. Bevington's concern, should a catastrophic or a larger accident occur, the private insurance companies would be liable for payment of up to $650 million, and if there were an accountable further amount of moneys needed, then Parliament could appropriate those funds to cover that balance, to the extent that it was willing to do that.
Have I got it straight so far?