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June 8, 2012 12:05 am

Could Insurance Coverage Hobble Commercial Space Flights?


coondoggie writes "Should the government continue to share the monetary risk of a catastrophic spacecraft accident even as the United States depends ever-more on commercial space technology? The question is one currently up for debate as the program that currently insures space launches, the Federal Aviation Administration's 'indemnification' risk-sharing authority, which can provide a maximum of $2.7 billion of insurance per launch, expires at the end of the year. According to the Government Accountability Office a catastrophic commercial launch accident could result in injuries or property damage to the uninvolved public, or 'third parties.' In anticipation of such an event, a launch company must purchase a fixed amount of insurance for each launch, per calculation by FAA; the federal government is potentially liable for claims above that amount up about $2.7 billion."

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/dlnol-z0jQ8/could-insurance-coverage-hobble-commercial-space-flights

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