Abstract
Space travel can be seen simply as one area of the development and use of high technology. Nevertheless, partly because of its irradiation effects on electronics and the enhancement of raw material, many view it as a key technology. The generally very complex systems, the equipment, the parts and the control mechanisms require extreme measures as far as performance and reliability are concerned. This is because running them is very costly and break-downs should be avoided. The limited transport capacities also need to be utilized as efficiently as possible. Additionally, due to the difficult conditions in space (temperature, radiation, highly sensitive control processes, large distances to ground control), space missions have to follow a rigid and precise schedule. The insurance industry can help in managing private investment risks against property, financial and liability losses. The insurers, however, need to make use of particularly careful, anticipatory risk valuations, competent inspectors and highly specialized know-how in pricing and claims handling.1 The insurance industry can be a technology pioneer in three ways2:
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