The inherently high-risk nature of aviation operations can mean that emerging risks are largely considered and addressed before they happen. Business risks are rarely unique to aviation and ash clouds are now “on the list” alongside introducing new technology for many businesses.
You therefore have to look a little harder at emerging aerospace business sectors. Space tourism represents one such sector with the full astronaut experience starting at USD20m in 2001. Space adventures are now being brought closer to home and at much lower prices nearer USD200k.
There are a number of businesses looking to offer the experience to the rich and famous and there appears to have been no shortage of takers. As this new breed of explorers begin their life-changing voyage into near space, the question is whether insurers will consider it an expensive business jet that just flies a bit higher?
|This post was part of the special feature about What Risks Will Emerge in 2012? published January 24, 2012. The feature also covered emerging risks in these other fields:|
Power & Utilities
Supply Chain Interruption