Get Out of my Way! - Insuring Against the Risks Caused by Space Debris
- Paper number
IAC-09.E8.4.1
- Author
Prof. Steven Freeland, University of Western Sydney, Australia
- Coauthor
Ms. Axelle Cartier, LL.M.(adv.), Excalibur Almaz Ltd., The Netherlands
- Year
2009
- Abstract
The recent (2007/2008) use of ASATs by both China and the United States to deliberately destroy their own satellites in space brought the question of space debris to the fore. The issue has been highlighted even further by the collision on 10 February 2009 of an operational American commercial satellite (Iridium 33) and a retired Russian satellite (Kosmos 2251). This is the first time that two intact satellites have collided and this event has resulted in hundreds of additional pieces of hazardous debris, with the potential to cause decades-long pollution in space. This collision raises many issues, including the need to control the exponential growth of space debris, the possible international responsibility and liability of both States involved and the efficiency of existing satellite collision avoidance methods. Beyond the technical, diplomatic, legal and regulatory issues, this collision also raises crucial insurance issues that are yet to be addressed. There are in outer space a variety of risks and insurance markets involved. Environmental damage, as well as disruption to business have both now become a reality, probably resulting in higher premiums and rates being applied in the future to both the launch phase and the in-orbit phase. Operators and financiers, as well as insurance providers, will all need to reconsider important elements of their respective space insurance strategies. In this context, this paper will focus on the insurability of risks caused by space debris and the consequences that this element of the insurance market will have on the overall international legal framework of outer space.
- Abstract document
- Manuscript document
(absent)