SpaceX pre-launch liability insurance massively increased following FAA requirement

March 16, 2017March 15, 2017 Julie Campbell

spacex falcon 9 pre-launch liability insurance

A new mandate was put into place which increased the minimum coverage requirement by five times. SpaceX changed its launch schedule to today at 1:35am but was required to carry far more pre-launch liability insurance than it previously held. The launch had been postponed as a result of high winds at Cape Canveral. SpaceX will webcast the launch so it can be viewed live. The original launch had been scheduled for March 14, but the delay was considered necessary. This particular mission was created to add the Echo Star XXIII…

SpaceX explosion destroys uninsured Falcon 9 rocket

September 6, 2016September 2, 2016 Julie Campbell

spacex explosion rocket launch insurance

That said, the contents of the rocket may have been covered by their own policies. The SpaceX explosion shocked the world, particularly when it was revealed that the Falcon 9 rocket was not insured. The rocket burst into flames on the launch pad in Cape Canaveral, Florida. There were neither fatalities nor injuries in this explosion, which did make it a very fortunate one. That said, due to the lack of coverage, SpaceX will likely need to cover the losses from the rocket. Moreover, it will also need to deal…