As of 4 July 2011, the licensing insurance requirements under
the UK Outer Space Act 1986 (OSA) have been
reduced to €60 million from £100 million.
The changes, which are intended to encourage a level playing
field with other space-faring nations, were announced by the
Minister of State for Universities and Science, the Rt Hon David
Willetts MP, at a UK Space Conference on 4 July.
The Reforms
In relation to each new licence application submitted after 4
July, the UK Space Agency will perform a risk assessment to assess
the potential risks posed by the mission and determine a
corresponding level of insurance cover.
In most cases, which involve missions using established
launchers, satellite platforms and operational profiles, this
insurance cover will be limited to €60 million against
thirdparty claims for the launch and in-orbit operational life of
the satellite, instead of £100 million.
