NASA Tarus XL Satellite-- who insures that thing?

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PostPosted: Wed Feb 25, 2009 6:14 pm   Post subject: NASA Tarus XL Satellite-- who insures that thing?  

If you wreck a $278 million NASA satellite, who's insurance is responsible? How about if you flew your buddy's plane or something, and dumped it in the ocean and swam to safety?



Just wondering.
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PostPosted: Thu Feb 26, 2009 12:59 pm   Post subject:   

Hi,



What I've come across just showed me through 4 basic satellite risk coverage elements. One of it is the "In Orbit" coverage element which covers for the damages caused to the satellite while under hostile space conditions.



This type of coverage would usually serve as a product guarantee since it's not usually possible for NASA to perform the repair works while the satellite is placed in its orbit.



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PostPosted: Fri Feb 27, 2009 12:22 pm   Post subject:   

Quote:
If you wreck a $278 million NASA satellite, who's insurance is responsible?




I think NASA is required to maintain coverage on its products & that policy would cover the losses in such circumstances. In some states, New York is one such instance, whereas physical losses to the satellite aren't covered under a policy. The satellite insurance policy would only offer legal liability coverage to the holder.



Hope the information helps. Groundnut

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PostPosted: Fri Feb 27, 2009 1:10 pm   Post subject:   

Quote:
If you wreck a $278 million NASA satellite, who's insurance is responsible? How about if you flew your buddy's plane or something, and dumped it in the ocean and swam to safety?



Just wondering.




whooooooooooooaaaa Surprised I am really looking forward to the experts in the forum answering this. Fingers crossed (hoping no NASA official or any of 'your buddy' is watching this post thejoelpeterson Sad )


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