Home » News & Blogs » Virgin Galactic’s SpaceShipTwo is currently insured as an aviation risk rather than a space one
Bookmark and Share
Hyperbola

Virgin Galactic’s SpaceShipTwo is currently insured as an aviation risk rather than a space one

4 Feb 2013, 11:27 UTC
Virgin Galactic’s SpaceShipTwo is currently insured as an aviation risk rather than a space one
(200 words excerpt, click title or image to see full post)

At the International Institute of Space Commerce’ sponsored event ”Space Tourism: Risks and Solutions” workshop which was held at Lloyds of London under an arrangement with the Broker Aon, the insurance of suborbital space tourism was discussed. Apart form the obvious risks to astronaut human life and third party life and property, other risks were considered including political, reputational and financial risks. However, it was the risk to the passengers and their potential for claims, along with how to insure the spaceplane hulls, that most exercised most of the attendees.
What is “informed consent”?
The need to plan for failures was one of the topics of conversation at the workshop. While many space tourism firms are hoping that the potential for liability claims in the event of an accident (assuming no gross negligence) could at least be restricted by signed waiver agreements with participants on the basis of “informed consent”, the definition of what is “informed” remains unclear. Some of the workshop speakers suggested that only rocket scientists would be truly “informed” as to the risk of such suborbital rocket flights, while others noted that information disemination regulations (e.g.ITAR) might restrict the flow of information prventing a participant from ...

Latest Vodcast

Latest Podcast

Advertise PTTU

NASA Picture of the Day

Astronomy Picture of the Day

astronomy_pod