The end of the US space shuttle programme could boost the commercial space sector, providing extra business for insurers, according to Simon Clapham, space underwriter at Liberty Syndicates.

Few space shuttle payloads have been insured since the Challenger disaster in 1986, after which commercial cargo was no longer transported on the shuttle.

However, Lloyd’s underwriters have already written insurance for so called space tourists travelling to the International Space Station onboard the Soyuz spacecraft, and new operators in the sector, such as SpaceX, the launch vehicle developer, need insurance.

Hiscox space underwriter, Denis Bensoussan, comments that work is currently underway with brokers and commercial ventures to develop insurance solutions for launch vehicles, cargo, crew and individual passengers on commercial space flights.

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