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The American Rocketry Challenge - National Association of Rocketry
Web29 Aug 2024 · 5 Satisfying the insurance/financial requirements—when a holder has shown direct financial responsibility (1) This section applies for the purposes of paragraph 47(2)(b) of the Act in relation to the holder of an Australian launch permit, an Australian high power rocket permit or a return authorisation, covering a launch or return. The insurance requirements for launch will be set using the Modelled Insurance Requirement (MIR) model, which is similar to the Maximum Probable Loss (MPL) model used by the US. The MIRapproach will tailor the amount of insurance requirements and limit of operator liability to the risk and diverse … See more Launch operators will not face unlimited liability for activities carried out in compliance with licence conditions and the Space Industry Act. All operator licences … See more The Space Industry Act states that licences ‘may’ contain a limit of liability. This has not been changed to ‘must’ contain a limit of liability, because changing the act … See more We will not be specifying the level of launch operator liability limits in regulations. The disadvantage of doing so is that the risk profiles for different types of … See more MIRwill be based on the assessment of the safety case and reflect the associated risks of a launch. The MIRcalculation will take into account: 1. a full range of … See more trophy radishes
Civil Aviation Authority
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