The Department of the Treasury plans to update technical aspects of the Terrorism Risk Insurance Program (TRIP) in line with legislation aimed at addressing terrorism-related disruptions and stabilizing the private market following terrorist attacks.

The Treasury said in a Federal Register document that the TRIP comes as part of efforts to comply with the TRIP Reauthorization Act of 2019.

Proposed modifications include updates to TRIP certification procedures as well as the program’s website. In addition, the Treasury seeks to clarify how the department calculates “property and casualty insurance losses” and “insured losses” to include cyber insurance matters.

The Federal Insurance Office will also be tasked to conduct research on the planned TRIP updates, according to the document. The Treasury is seeking feedback from the general public, particularly on captive insurers and TRIP certification issues.

BWX Technologies’ subsidiary, BWXT Nuclear Operations Group, has completed the TRISO nuclear fuel line restart project and has begun fuel production at its Lynchburg, Va. facility, the company reported on Tuesday.

“The restart of our TRISO line positions BWXT as the only company in the U.S. that is currently executing production contracts for TRISO fuel,” said Joel Duling, president of the Nuclear Operations Group. “I’m very proud of our team for blending new, innovative ideas with our extensive history and experience in fuel development and manufacturing.”

The company manufactures fuel across four commercial and government business lines. BWXT Nuclear Energy Canada currently manufactures approximately half of the fuel that powers the commercial reactor fleet in Ontario.

BWXT subsidiary Nuclear Fuel Services is the only provider of nuclear fuel for the U.S. Navy, and the company’s Uranium Processing and Research Reactors operation is the only North American supplier of research reactor fuel elements for colleges, universities and national laboratories.

BWXT is the only U.S. company to manufacture irradiation-tested uranium oxycarbide TRISO fuel using production-scale equipment. The company announced in June that it had secured a contract with the U.S. Department of Energy’s (DOE) Idaho National Laboratory.

Under the contract, BWXT will expand its TRISO manufacturing capacity and produce a demonstration quantity of the fuel. The project is jointly funded by the U.S. Department of Defense’s (DoD) Operational Energy Capabilities Improvement Fund Office and NASA, with overall program management provided by the DoD’s Strategic Capabilities Office.

BWXT was also awarded a contract with the DOE’s Oak Ridge National Laboratory to demonstrate capability to manufacture TRISO nuclear fuel to support the continued development of the Transformational Challenge Reactor in March.

About BWXT

At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Va., BWXT provides safe and effective nuclear solutions for national security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 12 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities.