Space travel is firmly back on the bucket list after Virgin Galactic’s VSS Unity, a re-usable spacecraft, took its first crew of tourists into space in August 2023. Any innovation requires years of testing and sometimes failure, and businesses need to know that they will be protected should the worst occur.
In the development process, Scaled Composites suffered a tragic accident in California during the spaceship test flight programme it was undertaking for Virgin Galactic. The London insurance market settled a claim for tens of millions of dollars in just five working days after a test flight crashed. Paying the claim quickly was important as it enabled Virgin to retrieve as much of the wreckage as possible.
By gaining a more in depth understanding of what had happened, development could continue to make safe space tourism a reality.
