Commercial Space Launches: FAA Should Update How It Assesses Federal Liability Risk

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By Alicia Puente Cackley (au); Gerald L. Dillingham (au)
Year: 2012
Pages: 35
Binding Paperback
ISBN 978-1-4578-3709-8

Product Code: 1457837099

Description

A catastrophic commercial launch accident could result in injuries or property damage to the uninvolved public, or äóìthird parties.äó In anticipation of such an event, a launch company must purchase a fixed amount of insurance for each launch and reentry, per calculation by the Fed. Aviation Admin. (FAA); the fed. government is potentially liable for claims above that amount up to an additional $1.5 billion, adjusted for inflation and subject to congressional appropriations. As of 2012, the inflation-adjusted amount is about $2.7 billion. The Commercial Space Launch Act Amendments of 1988 (CSLAA) provides for this payment, called indemnification. The indemnification provision, unless reauthorized, expires this year. This report addresses, among other things, (1) the U.S. governmentäó»s indemnification policy compared to policies of other countries; (2) the fed. governmentäó»s potential costs for indemnification; (3) the ability and willingness of the insurance market to provide additional coverage; and (4) the effects of ending indemnification on the competitiveness of U.S. launch companies. Tables and figures.. This is a print on demand report.

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