F.31. Off-balance sheet items
F.31.1. Commitments
As at 31 December 2014 the Group had no significant contractual commitments other than contractual leasing payments showed in Note F.24.
F.31.2. Other contingencies
F.31.2.1. Participation in nuclear pool
As a member of the Czech Nuclear Pool, the Parent Company is jointly and severally liable for the obligations of the pool. This means that, in the event that one or more of the other members are unable to meet their obligations to the pool, the Parent Company would take over the uncovered part of this liability, pro-rata to its own net retention used for the contracts in question. The management does not consider the risk of another member being unable to meet its obligations to the pool to be material to the financial position of the Group.
The potential liability of the Group for any given insured risk is contractually capped at twice the Parent Company’s net retention for that risk.
The subscribed net retention is as follows:
| (CZK million) | 31. 12. 2014 | 31. 12. 2013 |
|---|---|---|
| Liability | 166 | 166 |
| Fire, lightning, explosion, aircraft („FLEXA“) and break down of operations | 576 | 576 |
| Transportation risk | 115 | 115 |
| Technical insurance and breakdown of operations | 288 | 288 |
| Total | 1,145 | 1,145 |
F.31.2.2. Membership in the Czech Insurance Bureau
As a member of the Czech Insurance Bureau (“the Bureau”) related to MTPL insurance, the Group is committed to guarantee the MTPL liabilities of the Bureau. For this purpose, the Group makes contributions to the guarantee fund of the Bureau based on the calculations of the Bureau.
In the event of a fellow member of the Bureau being unable to meet its liabilities arising from MTPL due to insolvency, the Group may be required to make additional contributions to the guarantee fund. The management does not believe the risk of this occurring to be material to the financial position of the Group.