Tag: spacex insurance

SpaceX pre-launch liability insurance massively increased following FAA requirement

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…

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SpaceX explosion destroys uninsured Falcon 9 rocket

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…

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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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