Insurance has been the most prominent hurdle in space tourism. A legislation has been signed into law in New Mexico that reduces the risk that space tourism operators will face crippling lawsuits brought by surviving family members of a participant injured or killed during flight which has been applauded by the President of Virgin Galactic who develops space tourism.
In this the participants will have to sign a waiver before boarding the flight to space.
The law stipulates that spaceflight operators cannot be held liable for the "death of a participant resulting from the inherent risks of space flight activities" so long as participants sign a waiver before the flight.The waiver reads in part: "I understand and acknowledge that under New Mexico law, there is no liability for injury to or death sustained by a participant in a space flight activity provided by a space flight entity if the injury or death results from the inherent risks of the space flight activity. Injuries caused by the inherent risks of space flight activities may include, among others, death, bodily injury, emotional injury or property damage. I assume all risk of participating in this space flight activity."
It is said that near about 330 people have deposited money about $45 million to reserve flights with Virgin Galactic. People have asked to fly on the demonstration flights, displaying an appetite for risk that was not shared by the insurance underwriters, satellite builders, satellite operators and others attending the space-risk forum here. SpaceShip Two vehicle designed by Scaled Composites LLC of Mojave, Calif., is nearing completion of ground tests and it will go more tests like drop and glide tests before powered flight tests began in 2011.
There are still a lot of hicupps as participants are reluctant to sign the waiver before some successful flights were undertaken ......... we will have to wait and watch till then !
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