Timeline for How much of a commercial space launch can be insured?
Current License: CC BY-SA 3.0
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| Jun 23, 2015 at 12:25 | history | edited | mins | CC BY-SA 3.0 |
Added link to Antares failure, added blank lines to separate questions.
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| Dec 30, 2014 at 17:28 | answer | added | mins | timeline score: 10 | |
| Dec 24, 2014 at 17:19 | comment | added | user3049 | You can imagine it in the following way: Let's say, the launch of a Space Shuttle costs 500 million dollars. If we want to insure it, we could distribute that amount among all Americans (approx. 300 million people). Then, each American citizen would risk 500M/300M=1.7 dollars (i. e., if something is wrong with the launch and the insurance must be paid, every citizen pays 1.7 dollars, which is bearable). | |
| Dec 24, 2014 at 17:18 | comment | added | user3049 | As far as I know (article in a German magazine back in the 1990s), launches are insured using so-called reinsurance scheme. Let's say a particular launch is worth 1 billion dollars. No insurance company can take such risk. Therefore, a reinsurance company takes the risk of 1 billion dollars, splits it into manageable parts (let's say 1000 parts each worth 1 million dollars) and then signs reinsurance contracts with smaller insurance companies. | |
| Dec 24, 2014 at 15:40 | history | tweeted | twitter.com/#!/StackSpaceExp/status/547778949439565824 | ||
| Dec 24, 2014 at 14:55 | history | asked | Bruce James | CC BY-SA 3.0 |