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Space Insurance

Space Insurance

Dodano: 2022-01-18

National space law has been in the works since 2012. Experts hope that this year the first Polish law on space activities will be published. This is related to the need to popularize insurance in the space sector.

Ten years after the launch of the world’s first satellite, in 1967, the first international legal regulations concerning space appeared. The Outer Space Treaty was signed by representatives of the governments of the USA, UK, and USSR. It is important from today’s point of view that private companies are now involved in space exploration, which was not possible a few decades ago. Therefore, international legislation needs to be updated. Besides global solutions, national regulations need to be developed.

Space activities are considered particularly dangerous, which may exclude human liability for damages. It is important to decide who will be responsible for particular damage that occurs in space or suborbital space, whether it be the manufacturer, the investor, or perhaps the Treasury.

„Satellites or other types of space objects are 'matter’ that are difficult to insure. This applies to us as well, although we are not yet a launching state. Our legislation should focus on what is important to us. The space industry in Poland is largely based on private companies, start-ups and scientists who cooperate with international agencies – we should focus on protecting their intellectual property and their achievements and accomplishments” – said Katarzyna Malinowska, Ph.D., Head of the Space Studies Centre at Koźmiński University, an expert in space law.

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