Tokio Marine GX and specialist MGA Northcourt have launched an insurance facility dedicated to nuclear fusion technology.

Traditional nuclear insurance products are built for fission technology and include radiation exclusions, making them unsuitable for fusion. Unlike fission, fusion does not produce long-lived radioactive waste, cannot experience meltdown, and demands a bespoke approach to risk.

NC Fusion is designed to evolve with the technology, supporting projects from research through to commercial deployment.

Ben Kinder, chief underwriting officer of Tokio Marine GX, said: "The insurance market has historically responded to innovation after it arrives. With nuclear fusion, we're taking a different approach, positioning ourselves ahead of commercial deployment to ensure insurance coverage doesn't become an obstacle when this technology is ready to scale.

"By partnering with Northcourt, we're combining our financial strength and energy expertise with specialist nuclear underwriting knowledge to create new insurance frameworks that address fusion's unique risks. This is exactly what TMGX was created to do: remove barriers to innovation, reduce market volatility, and enable the energy transition at every stage of development."

Gary Head, chief underwriting officer, Optio Group, added: “Optio is proud to partner with TMGX in support of Northcourt’s pioneering work and will continue to broaden the facility’s product suite as fusion technology advances. This affirms Northcourt’s standing as a global leader in both fission and fusion energy insurance and further enhances its position at the forefront of breakthrough clean-energy risk solutions.”

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