FOREX NEWS

HOMEFOREX NEWS

10-07-2021 | Business

Jeff Bezos and Richard Branson will fly to space this month without any insurance against injury or death.

This month, Jeff Bezos and Richard Branson are flying to space without acquiring any liability insurance , brokers told The New York Times' DealBook newsletter on Friday.

Branson, the founder of Virgin Galactic, said last week that he plans to fly to the edge of space on Sunday. That's nine days before Jeff Bezos, the founder of Blue Origin, wants to launch his New Shepard rocket.

Insurance brokers told DealBook that Virgin Galactic and Branson haven't seen any indication that they've purchased coverage for the British billionaire in case he is hurt or worse, dies while on the flight.

They stated that the company's VVS Unity spacecraft was most likely insured. There is no sign that Blue Origin and Bezos have bought insurance to safeguard the Amazon founder and billionaire, the brokers told DealBook.

The Times reached out to Branson, Virgin Galactic, and Blue Origin for comment, but they declined or did not answer.

Virgin Galactic's flight is considered domestic because VVS Unity launches and lands at Spaceport America in New Mexico without crossing into space, DealBook reported.

VVS Unity will fly to the edge of space, 55 miles above sea level, while Blue Origin's rocket will go 62 miles above sea level, passing the Kármán Line, before returning to Earth. According to DealBook, Virgin Galactic has previously stated that all passengers will be required to sign a contract admitting that they are solely responsible for their own safety. However, under American law, it is nearly hard for businesses to shift full risk to their customers, according to the report.

Regulators will soon mandate liability insurance plans for flights into space, according to insurance firms. They claim that there is enough data on rocket launches for brokers to price these types of products.

"For the insurance sector, the major question is whether this is more like aviation insurance or more like present space plans," said Neil Stevens, senior vice president of space products at Marsh. "There hasn't been a time when the insurance markets haven't come to the rescue."

Leave a Comment :


CANCEL
  • We introduce people to the world of currency trading, and provide educational content to help them learn how to become profitable traders. We're also a community of traders that support each other on our daily trading journey.

OTHER LINKS

LEARN FOREX TRADING

CORPORATE ADDRESS

  • 8210 Desoto Dr, West Chester, OH - 45069, USA
  • (513) 968-7209
  • support@drforexofficial.com
Trustpilot

Trading CFDs on leverage involves significant risk of loss to your capital.

Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. The Website should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. DrForexOfficial, will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. Read our full legal disclaimer.

© 2022 All Right Reserved. DrForexOfficial

We will provide you latest market updates and analysis, for that you can JOIN OUR TELEGRAM CHANNEL and get daily profit and more facilities. If you want to JOIN TELEGRAM CHANNEL, click here to join.