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GAO Urges FAA Update Methodology For Third Party Launch Indemnification

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GAO Urges FAA Update Methodology For Third Party Launch Indemnification

The Federal Aviation Administration (FAA) should review and update as appropriate its probable loss methodology for calculating commercial launch providers’ insurance requirements as it relates to third-party indemnification, the Government Accountability Office (GAO) testified Tuesday. Third-party indemnification is a term for the total amount of money the federal government would be responsible for paying beyond private insurance in case of public, or third-party, damages from a catastrophic commercial launch accident. In the anticipation of such an event, a launch company…

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