NU Online News Service, Nov. 11, 3:30 p.m. EST
As the space shuttle program nears retirement, private commercial companies are using more of their own capital and help from NASA to develop spacecraft to deliver cargo and humans to space, bringing forth new needs for commercial insurance.
NASA's Commercial Crew Development (CCDev) initiative, now in its second phase, seeks to "accelerate the availability of U.S. commercial crew transportation capabilities and reduce the gap in U.S. human spaceflight capability." The hope is to spur economic growth as potential new space markets are created. Once developed, crew transportation capabilities could become available to commercial and government customers.
NASA will work through CCDev with commercial companies to develop space craft and launch vehicles that can deliver cargo and crew to low-Earth orbit and the International Space Station for when the space shuttles become obsolete. With this change in strategy, however, come risk management complications.
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