[Satnews] The Satellite Industry Association (SIA) has applauded the passage of a bill by the House of Representatives that will extend the existing commercial space launch indemnification regime through 2025.
The indemnification provision was included as a part of the Spurring Private Aerospace Competitiveness and Entrepreneurship (SPACE) Act of 2015. The Senate has already passed identical legislation, so the measure will now be sent to the White House for signature or veto.
SIA has long supported extending commercial space launch indemnification regime, which offers government indemnification for any such damages in excess of the required private launch insurance limits. The regime has never been drawn upon, but allows U.S. commercial launch service providers to compete on a level playing field with foreign providers, all of which enjoy similar indemnification from 3rd party liability damage related to launch failures.
Executive Comment
“Extending the launch indemnification regime for a further 10 years ensures the continuation of a long-standing provision needed for the global competitiveness of U.S. launch services companies,” said Tom Stroup, President of SIA. “SIA applauds this action by Congress. It is an important step to maintaining U.S. innovation and leadership in satellite launch while aiding the broader domestic and global satellite industry.”
