Insurer Ironshore has launched insurance coverage for passengers and participants in sub-orbital space flights through its Lloyd’s Syndicate (Pembroke).
The cover provides protection for personal risk exposure of death, serious injury, and associated medical expenses for aspiring astronauts engaged in sub-orbital space flights.
Insurance coverage limits are available for up to $5 million for any one passenger and up to $20 million for any one space flight event.
“Commercialisation of the space travel industry has triggered Pembroke’s development of a forward thinking program to provide protection for those pioneers seeking to explore space experiences,” said Neil Stevens, director of the space division of Pembroke.
Marc McLean, head of the personal accident division at Pembroke, added: “Attention to personal accident risk demonstrates an ongoing commitment to product innovation, enabling us to extend our business lines into exciting new markets, such as space travel, through cross-divisional collaboration.”
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Ironshore, Europe, Lloyd's Syndicate, Marc McLean