Commercial Space Launch Indemnification Extension Applauded by SIA
The Satellite Industry Association (SIA) is calling House passage of the Spurring Private Aerospace Competitiveness and Entrepreneurship Act "an important step to maintaining U.S. innovation and leadership in satellite launch." The bill would extend the commercial space launch indemnification regime…
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-- which offers government indemnification for any damages in excess of the required private launch insurance limits -- through 2025, and the Senate has already passed similar legislation, SIA said Tuesday. “Extending the launch indemnification regime for a further 10 years ensures the continuation of a long-standing provision needed for the global competitiveness of U.S. launch services companies,” SIA President Tom Stroup said in a statement.