Spaceflights for Richard Branson and Jeff Bezos spur a race for insurers, too.

spaceflights for richard branson and jeff bezos spur a race for insurers too

Sumary of Spaceflights for Richard Branson and Jeff Bezos spur a race for insurers, too.:

  • Richard Branson is scheduled to fly into suborbital space on Sunday, nine days ahead of a similar journey by a fellow billionaire, Jeff Bezos.
  • These first flights for the space moguls will also launch without liability insurance, the DealBook newsletter reports.Brokers say neither Virgin Galactic nor Mr.
  • Branson and Blue Origin declined or did not respond to requests for comment.“We have talked to those companies about insurance and regulatory issues a lot,” said Sima Adhya, the head of space insurance at Hamilton, a company that offers insurance through Lloyd’s of London.
  • “But there have been no policies specifically written for these flights.”Liability coverage is required on international flights.
  • Branson’s flight, despite rocketing to the edge of space, is technically considered domestic travel.
  • Virgin has said passengers will eventually be required to sign a contract agreeing to be fully liable for their own safety, but American law makes it nearly impossible to transfer all liability in the case of personal injury or loss of life.Insurance providers say it’s very likely that regulators will soon require liability policies.
  • Space travel wouldn’t be covered by a typical life insurance policy, industry experts say.

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