No one disputes the need to update from $75 million. My point and question is that when we do any scenario of a major nuclear accident within the Canadian facilities, in terms of the likely compensation required, you crack through $650 million without breaking a sweat. The only place we see that being compensated for is from the Government of Canada.
We have this limited liability regime, and what I'm worried about, to be frank, is that this is all taking place in the conversation around privatization of AECL. We don't want to set a limit of liability that is somehow an enticement for folks to build reactors on this side of the border instead of the U.S., where you have a pooled liability and an unlimited cap, and folks can end up suing for quite a bit more.
The cost of insurance is part of the cost of doing business. In the nuclear industry no one insures these things because they're so risky, whether in cost overruns or in terms of accidents, and we don't want an enticing aspect of the Canadian build project to be that it has a much lower limit of liability than they do south of the border.
I'm looking around the world and seeing much, much higher rates everywhere, simply everywhere, than what is being proposed here.