Travel insurance firms to cash in on space tourism
A German insurer will offer space travel insurance, hoping to cash in on a wave of “ordinary astronauts” ahead of the first commercial space trips next year.
Allianz says it will offer space travel policies, covering everything from cancelled trips to medical cover, from the start of next year to coincide with the launch of Virgin Galactic, the spaceflight company owned by Richard Branson’s Virgin Group.
So far about 450 people have reserved seats for the $200 000 (R1.6 million), five-minute trips into sub-orbital space, where weightlessness kicks in and the curvature of the earth and blackness of space can be seen. Allianz’s Erick Morazin said prices were not finalised, but the basic level of insurance for such trips was likely to start at $700 and go up to $10 000.
Morazin said that Allianz had sketched out around 20 different insurance packages that add medical, luggage and other forms of cover to the basic policy. He was wary about giving too many details, fearing that it could benefit rival firms also looking to enter the space travel market.– Reuters
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