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Member, Beacon International Group, Ltd.
Proposed legislation in Russia calls for insurance to be made mandatory for space risks and if all goes as planned, the requirement could come into effect in 2015, Forinsurer reported.
Under the proposal, the country's federal space agency and interested federal executive authorities would have to develop and present a bill on the matter in November 2014.
Talks for mandatory space risk insurance had started in 2013 after the explosion of a Proton-M rocket shortly after launch.