Insurance for rocket launchers? Good idea
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After the Wallops Island spaceport in Virginia finishes repairs from October's unmanned rocket that exploded, they expect to launch another — only this one will be insured.
Officials say an aerospace company that uses the state-owned launch pad will help pay for repairs from the rocket explosion and will also insure the launch pad. On Thursday, Orbital, NASA and the Virginia Commercial Space Flight Authority said they would evenly divide the repair costs.
After the explosion, state officials were shocked to learn they were stuck with paying the bill for the repair costs to the launch pad, estimated at about $15 million. “You don't just launch a rocket and have no insurance,” Gov. Terry McAuliffe said. “I find that almost unfathomable.”
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