Travel insurance provider Allianz Global Assistance and the International Space Transport Association (ISTA) have partnered for the development of insurance for growth in space tourism and commercial space flight.
As per the agreement, both partners are committed to associate travellers before, during and after their space flight to ensure that their unique galactic experience, as well as the experience of their families back on earth, will be safe, serene and comfortable.
Allianz said it will start contacting space liners, space scientists, travel agents, space travellers, and consumer organizations.
Insurance companies and the space industry never came to a mutual agreement on insurance for commercial, sub-orbital space flights, according to the insurer.
Allianz Global Assistance director of global accounts Erick Morazin said their partnership with the International Space Transport Association (ISTA) demonstrates the support and interest in the Space Travel industry.