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The mission was insured, and it didn't cost "billions".
by rosser 12y ago
The mission was insured, and it didn't cost "billions".
- mkriss 12y agobut it did cost millions to insurance company
- dfan 12y agoIf the insurance company is doing its job right, this was priced into its rates.
- FranOntanaya 12y agoThen it cost millions to a lot of people.
- claystu 12y agoWhich is understood by all those people when they purchase insurance. This isn't news. Spreading the risk around is why people buy insurance in the first place.
- gohrt 12y agoThen the failure wasn't free. This customer and all other customers paid for this failure. Other customers, who may have done more and more expensive work to avoid failure, are stuck paying for this failure. Insurance thus incentivizes a race to the bottom -- using other customers to finance ones own risk.
- dragontamer 12y agoBillions, not millions.
- Dylan16807 12y agoOne launch is dozens of millions, not billions.
- GrinningFool 12y agoInsurance != free. Nor is paying a claim.
- differentView 12y agoThat means future cost of buying similar insurance will rise.
- nootropicdesign 12y agoHopefully they had Nationwide insurance because they have accident forgiveness policies. Your rates don't go up after your first launch accident.
- Shivetya 12y agoare only cargoes insured or is the entire launch vehicle insured? I am curious as to how an insurance company assess risk in these launches, let alone what the starting point for any insurance would be relative to the value of the rocket and cargo.