The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has announced that third-party liability insurance guidelines for Indian private space sector players, including rocket and satellite makers, will be finalised before the end of 2022.
As per the draft Spacecom policy, private players willing to provide communication services within and outside India using a space-based asset are liable for damages caused to other space objects in outer space.
To this end, the service providers have to provide financial guarantee or insurance cover. IN-SPACe will determine the extent of the financial guarantee or insurance cover by taking into account the risks involved with the space object in outer space.
