The Impact of Space Debris on Commercial Space Insurance
- Paper number
IAC-08.A6.4.5
- Author
Dr. Maria Buzdugan, McGill University, Canada
- Year
2008
- Abstract
Orbiting space debris is becoming one of the main hazards posed to the safety of space flight and space assets in outer space. While international efforts to mitigate debris production in the mid-1990s succeeded in reducing the rate of debris production, recent data suggests the rate of debris production is increasing once again. It is estimated that pieces of artificial debris orbiting at velocities of approx. 35,000 km/hour will likely become a very serious danger to the orbiting space assets in the near future. The increasing risks from space debris will inevitably lead to increased costs of commercial space insurance. This paper will address the adequacy of the current system of voluntary guidelines for limiting the production of the debris population and the potential impact on commercial space insurance of space debris (i.e., the issues of identifying the source of a piece of debris that caused damage, the burden of proving the source of debris and discussing the implications of insurance clauses that exclude certain types of damage have practical and significant consequences for the development of space travel). The paper will also discuss possible strategies to compensate loss resulting from space debris produced by unidentified sources, such as establishing a communal insurance pool. The paper will analyze whether the insurance industry could play a role in protecting the space environment by assuming a “preventive role” to decrease the production of orbital debris. For example, the cost of premiums could reflect the level of risk of producing debris associated with a particular type of launcher, payload and/or mission. The added insurance expense would encourage space companies to look for and implement effective debris reduction strategies. All of these issues need to be considered as space debris is becoming a real risk to the safety of space activities.
- Abstract document
- Manuscript document
IAC-08.A6.4.5.pdf (🔒 authorized access only).
To get the manuscript, please contact IAF Secretariat.