Financial Responsibility for Reentry Vehicle Operations

Details

• Corporate Creators:
  United States. Federal Aviation Administration. Office of Commercial Space Transportation
• Subject/TRT Terms:
  Commercial Space Industry Commercial Space Launch Act Commercial Space Transportation Financial Responsibility Requirements Financing Government Liability Insurance Outer Space Reentry Operations Reentry Vehicle Risk Assessment Spacecraft Space Insurance Industry Space Shuttles Third Party Coverage

  More +
• Publication/ Report Number:
  OCST-RD-RES09-95
• DOI:
  https://doi.org/10.21949/1404047
• Resource Type:
  Research Paper
• Geographical Coverage:
  United States
• Corporate Publisher:
  United States. Department of Transportation. Federal Aviation Administration
• Abstract:
  The Department of Transportation's Office of Commercial Space Transportation is in the process of assessing the safety of a reentry vehicle and its operation and is developing an associated regulatory framework for ensuring public safety while minimizing regulatory burdens, delays, or uncertainties that could hamper or prevent development of commercial space transportation and reentry capabilities. As part of this overall activity, the existing statutory ceilings on third-party liability and government property insurance requirements were examined. Specifically, the Commercial Space Launch Act's existing ceilings and risk-based determination of the maximum probable loss that would result from licensed reentries were examined to establish their appropriateness to licensed reentry operations. It was found that the current statutory requirements are more than adequate for ensuring third-party and government property against the risks likely to be encountered from licensed reentry operations. It was concluded that the current methods employed for the setting of financial responsibility, i.e., the determination and use of maximum probable loss, is also appropriate for reentry operations. It was determined, based upon extensive conversations with the space insurance industry, that insurance industry capacity for providing third-party and government property coverage at a reasonable price is adequate and is not likely to pose a problem, at least in the near-term. The recommendation was therefore made that the existing ceilings and method for setting financial responsibility requirements for launches be used for setting financial requirements for reentry operations. 40p.
• Format:
  PDF
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha-512:81b69d4446a5af33805922177115427da30e0ade1c3a5dca4ab2b1d9f92d7e8128c031abbf93e93f482e1523fe127f84ee59809d46b6c4bce1b4fa900308cae0
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/12639/dot_12639_DS1.pdf
• File Type:
  [PDF - 196.39 KB ]