Policy & Regulatory Risk: Seminar IV-II
Tuesday, October 23rd, 2012
The final seminar of the Practitioner and Industry Seminar Series on Risks Associated with Space Activity was held on Thursday 27 October 2011 in London.
Seminar IV-II: Policy and Regulatory Risk
By its very nature, space activity can be more susceptible to risk than comparable terrestrial activity. Along with security and physical hazards associated with launch and debris, for example, there are significant additional business ramifications. There are risks specific to space commerce as a result of the long-term nature of the projects, and by virtue of their ultimate physical placement. The choice of technology and other design decisions are critical, because once an object is launched, alteration is difficult or impossible. In addition, the sector is notable for regulatory and policy variables which necessitate great care in planning to avoid unpredictability. There are also financial and insurance concerns specific to space ventures.
In this complex environment, it is essential to understand and quantify risk in undertaking a commercial space venture, its funding and insurance. In order to foster better understanding of these risks, and to encourage appropriate policy directions in all areas of the space sector, the Institute has brought together leading specialists to present a series of seminars on space risks and their insurance.
The aim of the series is to inform and engage those involved in space activities, policy makers and lawyers who advise them, as well as students and scholars in the field. Previous seminars attracted interested and stimulating participants, and were marked by insightful comments and policy suggestions.
The final seminar of the series dealt with policy and regulatory issues affecting areas other than those related to spectrum. Topics covered are set out in the program below. Like the previous seminars, it was of short duration in order to fit into the working day of our speakers and delegates. There was ample time for comment and discussion.