IN-SPACe plans ₹500-cr cap on 3rd-party insurance for private operators
India's space regulator, IN-SPACe, is planning to make private launch operators take out third-party insurance worth up to ₹500 crore.
The idea is simple: if a rocket launch accidentally causes damage, whether on Earth or in space, there's a safety net to cover people, property, or other space objects.
Insurance covers rocket payloads and re-entry
This move would protect the government from big financial hits and give private players more confidence to launch rockets.
The insurance would cover everything from the rocket itself to payloads and even the re-entry phase of spent rocket stages.
It also gives private players greater certainty while raising capital and planning missions by defining their potential liability upfront.
Plus, it makes sure India keeps up with global rules around space safety.