[SatNews] The Satellite Industry Association (SIA) has applauded the passage by Congress of an extension of the commercial space launch indemnification regime first introduced in 1984.
This three-year extension ensures the continuation of a long-standing provision needed to help ensure the global competitiveness of U.S. companies. The “Launch Liability Extension” was included as Section 8 of H.R. 3547, the Consolidated Appropriations Act, 2014, which passed both houses of Congress this week.
“A consistent and effective third-party launch indemnification regime allows U.S. commercial satellite launch service providers to compete more effectively in the international marketplace,” said Patricia Cooper, the President of SIA. “SIA is pleased that Congress has acted quickly to continue the regime for a three year period. It is an important step in maintaining U.S. innovation and leadership in satellite launch and aids overall access to space.”
The “Launch Liability Extension” provision continues a risk management regime, which requires launch service providers to acquire private launch insurance against the possibility of certain third-party damages in the event of a launch failure involving government or commercial satellites, but offers government indemnification for any such damages in excess of the required private launch insurance limits. The regime has never been drawn upon, but will enable U.S. commercial launch service providers to compete effectively with foreign providers, all of which have been provided with unlimited indemnification coverage.
The SIA's infosite: https://www.sia.org/
