Space Insurance: International Legal Aspects

Aerospace Law and Policy Series Volume 13

Space Insurance: International Legal Aspects focuses on the legal aspects of space insurance, in the contractual context, analysing the theory of space risk insurance, as well as the insurance terms used in the market. Insurance related to outer space activities, has been around since the 1960s, but has become vastly more significant with the increased commercial use of satellites. In light of this increasing significance, this book offers the first in-depth coverage, both practical and theoretical, of space insurance from an international law perspective.

What’s in this book:

Attending throughout to the important and problematic distinction between the space segment (upstream) and the ground segment (downstream) in space law, this book deals comprehensively with such issues and topics as the following:

• the main hazards relating to space activities;
• the impact of new space technologies on the level of risk and insurance;
• the differing types of risks attributable to various entities in the context of insurable interest;
• aspects of the space risk allocation regimes and risk assessment;
• the impact of the five ‘space treaties’ – the Outer Space Treaty, the Liability Convention, the Rescue Agreement, the Registration Convention, and the Moon Agreement – on the subject and scope of insurance coverage;
• the advent of suborbital flight, commercial human space flight, and space tourism in the context of emerging insurance risks;
• the problem of space debris;
• contractual aspects of space activities affecting the space insurance risks;
• basic notions such as ‘outer space’, ‘space object’ in the context of space activities and related insurance coverage;
• basic insurance principles and their operation in the space insurance;
• the adjustment of losses and the settlement of disputes in space insurance.

The author emphasises the need to understand the various insurance risks facing particular types of commercial space activities, including pre-launch, launch, satellite operation and communications, satellite navigation, satellite remote sensing and space station operation.

How this will help you:

Satellites are increasingly a vital part of many daily activities of contemporary society and the Earth’s orbit is becoming ever more crowded, heightening the risks of collision, damage and claims. This thoroughly researched book therefore serves as a useful resource to lawyers, policymakers, and academics tasked with defining the scope of insurance coverage that accurately mirrors technological, contractual, and legal reality. The allocation of risk and liability for damage in the space industry have been elucidated in such a practical way that insurance lawyers can use the knowledge effectively as a tool for space risks management and its insurance.