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Government Space The Almighty Buck Science Technology

Could Insurance Coverage Hobble Commercial Space Flights? 169

Posted by samzenpus
from the devil's-in-the-details dept.
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."
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Could Insurance Coverage Hobble Commercial Space Flights?

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  • by Anonymous Coward on Thursday June 07, 2012 @07:45PM (#40251349)

    At the bargain price of $22k a song, a music server would only have to hold about 123,000 songs to reach $2.7 billion! Just the iPods on that ocean liner might have that many. Where's your sense of value? Clearly some don't have the same stuff upstairs that bankers and insurance folks do.

    Just imagine the cost if they hit Facebook. The loss of exports alone... imagine the great loss to mankind. Better keep some bottled in case of an emergency. Why in 100,000 years with scarce resources they'll find some fossilized facebook and be in awe. Imagine what that'll be worth.

The bomb will never go off. I speak as an expert in explosives. -- Admiral William Leahy, U.S. Atomic Bomb Project

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