In an effort to be the first in the industry to take advantage of the upcoming wave of “ordinary astronauts” who will be taking the first commercial trips into space next year, the German insurance giant, Allianz, has announced that in 2012 it will begin selling space travel insurance policies. The sale of these policies will align with the launch of the spaceflight company called Virgin Galactic, owned by Virgin…

President Obama’s visit to Australia’s Northern Territory involved the receipt of a unique gift, as the American head of state was given an insurance policy against an attack by a crocodile. The Northern Territory’s chief minister, Paul Henderson, announced that the American president would receive a government insurance policy that would pay up to $50,000 (AUD) should he be the victim of a crocodile attack. Henderson stated that the president…

 As NASA’s space shuttle program comes to an end, many insurance companies are eyeing the birth of a new commercial industry: Space tourism. Insurers have covered the space program since its inception, but now that NASA will no longer be launching expeditions into space as part of a federal project, the agency is looking to turn the program into a freelance affair. This shift toward a commercial market has got…