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Insurance concepts and terms
Insurance concepts letter N

NATIONAL BANK OF UKRAINE - the central bank of Ukraine, a special central government agency, with legal status, tasks, functions, powers, and principles of organization defined by the Constitution of Ukraine, the Law of Ukraine "On the National Bank of Ukraine," and other laws of Ukraine. It is the issuing center and conducts a unified state policy in the field of monetary circulation, credit, and strengthening of the national currency of Ukraine - the hryvnia. It also regulates and supervises the activities of commercial banks in Ukraine and non-bank financial institutions.

 

NUCLEAR RISKS INSURANCE - a type of insurance that provides compensation for material damage or harm caused to individuals as a result of radioactive exposure resulting from unforeseen circumstances in the extraction, production, storage, and transportation of radioactive substances. In international practice, the insured property of the insurer and its liability for potential damage to third parties are considered. Given the scale of nuclear risks, the pooling of efforts by insurers is of great importance. For this purpose, the Nuclear Insurance Pool of Ukraine (NIPU) has been established.

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