Tag: space travel insurance

If SpaceX rockets are to be reused, they’ll need insurance first

H. Cutner
SpaceX rockets spacecraft technology

The company is looking to use their technology more than once and is preparing to recover them for re-launch. Now that it has been shown that SpaceX rockets are able to make landings on a consistent basis, they are now looking to insurance underwriters to make it possible to be able to reuse those devices for the launch of commercial satellites. The insurance industry will need to be heavily involved in this process in order to manage the financial implications. Over the next week or two, the Hawthorn space company…

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SpaceX brings space tourism into the limelight

S.Vagus
Space tourism

Successful shuttle launch highlights insurance coverage California-based Space Exploration Technologies, commonly known as SpaceX, successfully launched its Falcon 9 rocket carrying its Dragon spacecraft into orbit this week. The launch marks the first time a commercial company has made an attempt to send a spacecraft to the International Space Station orbiting the planet. Since the U.S. retired its spacecraft fleet, space exploration has become a commercial province. As such, it has also become an attractive industry for insurers looking to expand their business. SpaceX’s launch, for instance, was not short…

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Travel insurance to cover your trip into space

Marc

It is predicted that this year will bring the first commercial flights into space, and with them, those space tourists will also be purchasing travel insurance to provide them with additional coverage for their trips. Among the leading space tourism companies is Virgin Galactic, which is offering coverage directly through its website, though these travelers can also speak with their travel agents if they want to obtain the coverage they need, just as they would for any other type of traditional vacation. Though the ultra-wealthy have already been taking space…

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Space travel insurance policy available from Allianz in 2012

Nordstrom

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 Group’s Richard Branson. There have already been approximately 450 people who have made seat reservations with Virgin Galactic for its…

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