[Code of Federal Regulations]
[Title 14, Volume 4]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 14CFR440.15]

[Page 877-878]
 
                     TITLE 14--AERONAUTICS AND SPACE
 
     CHAPTER III--COMMERCIAL SPACE TRANSPORTATION, FEDERAL AVIATION 
              ADMINISTRATION, DEPARTMENT OF TRANSPORTATION
 
PART 440_FINANCIAL RESPONSIBILITY--Table of Contents
 
Subpart A_Financial Responsibility for Licensed and Permitted Activities
 
Sec. 440.15  Demonstration of compliance.

    (a) A licensee or permittee must submit to the FAA evidence of 
financial responsibility and compliance with allocation of risk 
requirements under this part, as follows, unless a license or permit 
order specifies otherwise due to the proximity of the intended date for 
commencement of licensed or permitted activities:
    (1) All reciprocal waiver of claims agreements required under Sec. 
440.17(c) must be submitted at least 30 days before the start of any 
licensed or permitted activity involving a customer, crew member, or 
space flight participant;
    (2) Evidence of insurance must be submitted at least 30 days before 
commencement of any licensed launch or permitted activity, and for 
licensed reentry no less than 30 days before commencement of launch 
activities involving the reentry licensee;
    (3) Evidence of financial responsibility in a form other than 
insurance, as provided under Sec. 440.9(f), must be submitted at least 
60 days before commencement of a licensed or permitted activity; and
    (4) Evidence of renewal of insurance or other form of financial 
responsibility must be submitted at least 30 days in advance of its 
expiration date.
    (b) Upon a complete demonstration of compliance with financial 
responsibility and allocation of risk requirements under this part, the 
requirements of this part shall preempt each and any provision in any 
agreement between the licensee or permittee and an agency of the United 
States governing access to or use of United States launch or reentry 
property or launch or reentry services for a licensed or permitted 
activity which addresses financial responsibility, allocation of risk 
and related matters covered by 49 U.S.C. 70112, 70113.
    (c) A licensee or permittee must demonstrate compliance as follows:
    (1) The licensee or permittee must provide proof of the existence of 
the insurance required by Sec. 440.9 by:
    (i) Certifying to the FAA that it has obtained insurance in 
compliance with the requirements of this part and any applicable license 
or permit order;
    (ii) Filing with the FAA one or more certificates of insurance 
evidencing insurance coverage by one or more insurers under a currently 
effective and properly endorsed policy or policies of insurance, 
applicable to a licensed or permitted activity, on terms and conditions 
and in amounts prescribed under this part, and specifying policy 
exclusions;
    (iii) In the event of any policy exclusions or limitations of 
coverage that may be considered usual under Sec. 440.19(c), or for 
purposes of implementing the Government's waiver of claims for property 
damage under 49 U.S.C. 70112(b)(2), certifying that insurance covering 
the excluded risks is not commercially available at reasonable cost; and
    (iv) Submitting to the FAA, for signature by the Department on 
behalf of the United States Government, the waiver of claims and 
assumption of responsibility agreement required by Sec. 440.17(c), 
executed by the licensee or permittee and its customer.
    (v) Submitting to the FAA, for signature by the Department on behalf 
of the United States Government, an agreement to waive claims and assume 
responsibility required by Sec. 440.17(e), executed by each space 
flight participant.
    (vi) Submitting to the FAA, for signature by the Department on 
behalf of the United States Government, an agreement to waive claims and 
assume responsibility required by Sec. 440.17(f), executed by each 
member of the crew.
    (2) Any certification required by this section must be signed by a 
duly authorized officer of the licensee or permittee.
    (d) Each certificate of insurance required by paragraph (c)(1)(ii) 
of this section must be signed by the insurer issuing the policy and 
accompanied by an opinion of the insurance broker that the insurance 
obtained by the licensee or permittee complies with all the requirements 
for insurance of this part and any applicable license or permit order.
    (e) The licensee or permittee must maintain, and make available for 
inspection by the FAA upon request, all required policies of insurance 
and other

[[Page 878]]

documents necessary to demonstrate compliance with this part.
    (f) In the event the licensee or permittee demonstrates financial 
responsibility using means other than insurance, as provided under Sec. 
440.9(f), the licensee or permittee must provide proof that it has met 
the requirements of this part and of a FAA issued license or permit 
order.