May 14, 2004
STILL A WAYS TO GO:
SpaceShipOne Soars To 212,000 Feet (UPI, May 14, 2004)
A privately-built manned spacecraft has reached a record altitude of 212,000 feet over California on one of its final tests before officially entering space.The craft, called SpaceShipOne, was built by aerospace pioneer Burt Rutan, who hopes to win the Ansari X-Prize of $10 million for the first private flight into space.
What do you figure it costs to insure this? Posted by Orrin Judd at May 14, 2004 8:49 AM
Per annum? Probably around a mil, three mil tops, depending on the projected life of the vehicle.
Posted by: Chris at May 14, 2004 9:09 AMMr. Judd;
Nothing. I doubt it's insured. It's a remarkable triumph for private iniative though. It would cost NASA more to form a committee to study the idea than it's cost Rutan to actually build and fly the thing.
Posted by: Annoying Old Guy at May 14, 2004 11:57 AMWhy?
Posted by: Uncle Bill at May 14, 2004 3:05 PMI'd like to know if there's any insurer that would touch the pilot.
Lloyd's I suppose. Or are there some things that even they won't touch?
Posted by: Roy Jacobsen at May 14, 2004 4:24 PMI think that Rutan could get thousands of volunteers who would pilot his rocket for free, or even pay to do it. He would have no problem getting them to sign waivers of indemnification. I would.
Posted by: Robert Duquette at May 15, 2004 12:50 PMWhat is that you wish to insure?
The craft? Spacecraft are insured routinely. At a price. I believe that most commercial sattilite launches are insured. The premia are stiff as the craft blow up with a certain frequency.
The life of the pilot. Not on a new application. If he has existing insurance that is more than 2 years old, it is typically incontestable and would not be affected by the flight.
Workers Comp on the Pilot? Manditory, if the pilot is an employee, but it would be underwritten though a state run pool. The rate would be based on a pool with other ultra hazarous employments, deep sea divers, high iron workers, etc.
Posted by: Robert Schwartz at May 15, 2004 1:06 PM