Maximum Probable Loss Methodology for space and high power rocket activities
The Maximum Probable Loss Methodology sets out the method that can be used to calculate the maximum probable loss that might occur due to certain space activities.
It may be used to determine the insured amount defined in the Space (Launches and Returns) Act 2018 and specified in the Space (Launches and Returns) (Insurance) Rules 2019.
The Act specifies that the minimum amount of insurance is at least equal to the lesser of:
- an amount specified in the rules
- an amount determined using a method specified in the rules
Insurance requirements based on maximum probable loss calculations provide financial protection against the consequences of events deemed sufficiently probable under the methodology.
The Australian Space Agency can provide an estimator tool to estimate maximum probable loss, using the inputs of the Maximum Probable Loss Methodology. The tool is not intended to be a comprehensive calculator or maximum probable loss and is not a substitute for independent specialist advice.
To request this tool, please email firstname.lastname@example.org.
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