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Axa XL has joined the Nuclear Energy Maritime Organization (Nemo) to address the unique insurance needs for nuclear-powered ships, which are expected to require bespoke coverage due to high liability risks. The International Maritime Organization (IMO) plans to finalize a revised nuclear code for ships by 2030, with other milestones for safety regulations in 2028 and 2029.

The company recognizes nuclear energy as a long-term solution for decarbonizing shipping, although the adoption timeline may extend over the next decade. Collaboration among stakeholders is essential to establish a supportive regulatory framework and mitigate risks associated with nuclear technology in maritime operations.