CEO Bezos, a lifelong space enthusiast, has been vying with Elon Musk and Richard Branson to become the first billionaire to fly beyond the earth's atmosphere.
"We're not aware of a case where anybody is insured against passenger liability," Neil Stevens, senior vice president, aviation and space at MarshAssuming they lift-off as planned next month, Bezos and the other wannabe astronauts on Blue Origin's New Shepard spacecraft will not only spend several minutes 62 miles above the earth in a truck-sized capsule, they also have to get back.
Charles Wetton, underwriting manager for space policies at insurer Global Aerospace, said astronauts on government-funded missions are carefully selected for their knowledge, skills and fitness and train for several years before blast off.
It is still early days, but cover for space tourists may be the next step, said Tim Rush, senior vice president, U.S. space, at insurance broker Gallagher, adding that the life insurance market currently provides individual cover of $2-5 million for private astronauts. The first-ever aviation insurance policy was written by Lloyd's of London in 1911. A few years later the market insured Charles Lindbergh and his single-engine plane for $18,000 on its non-stop flight from the United States to Europe.
What a stupid comment. The last thing they need is insurance. They can buy an insurance company or a Hospital.
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