The recent crash of the VSS Enterprise, a spaceship designed to take tourists into space, has generated some serious discussion about insurance liability for the new-age adventurer. Designed by Virgin Galactic, the VSS Enterprise was on an experimental test flight when it unexpectedly crashed, killing the co-pilot. Virgin Galactic is one of many recent start-up companies seeking to pioneer a new form of tourism, space travel.
In the aftermath of the catastrophic crash of the VSS Enterprise, many experts are predicting that life insurance companies will begin to ask questions about such adventurous, albeit risky, activities. Today, U.S. Life insurance policies do not address space travel as it is neither inquired about nor excluded from coverage. Many believe this will soon change as the life insurance industry continues to adapt to evolving consumer habits.