Mr. Mitchell said the proposed bill would make available wnlimited indemnity for financial loseaes resulting from a reactor catastrophe. Mr. Libby suggested that testimony be prepared, for use during the JCAE insurance hearings, summarizing the AEC's hazard experience in the operation of production reactors. After further discussicn, Commissioners Libby and Murray indicated that they approved the recommendation of »EU 785/12 and suggested that the General Manager proceed with this action. Mr. Libby said that Mr. Strauss had indicated that he approved the recommendation of AEC 785/12. 7. Cancellation of JCAE Hearing on Project SHERWOOD (p. 55) Mr. Cook reported that the JUAE bad cancelled hearings which had been ...heduled for the following day on the classification of Project SHERW UW. Wi B. McCool Secretary ec: General Counsel]