COMSTAC RMWG OUTBRIEF OCTOBER 14, 2011

1. COMSTAC RMWG OUTBRIEFOCTOBER 14, 2011 Chris Kunstadter Chairman, RMWG Senior Vice President XL Insurance

2. TOPICS • FAA outbrief to White House on review of 2004 Space Transportation Policy • COMSTAC contribution on 10 issues • FAA review of managing liability exposure of manufacturers, suppliers and operators of commercial human spaceflight programs • Methods to alleviate adverse impactsof unlimited liability • Development of industry standards for commercial human spaceflight • Best practices / lessons learned / experience database

3. Observations, Findings and Recommendations • Finding #RMWG-F1 • Extension of the indemnification regime under the CSLA beyond the current expiration date of December 31, 2012, is critical to the viability of the commercial launch industry in the US • COMSTAC and the FAA must work together to ensure timely extension of the indemnification regime, preferably for an extended period

4. Observations, Findings and Recommendations • Recommendation #RMWG-R1 • Limitation on liability for US commercial spaceflight manufacturers, suppliers and operators will enhance certainty in managing financial risks • Failure to limit liability presents significant hurdles to the industry • COMSTAC applauds the FAA’s research into liability limitation strategies • COMSTAC urges the FAA to pursue liability limitation with all requisite speed

5. THANK YOU Christopher T.W. Kunstadter One World Financial Center chris.kunstadter@xlgroup.com Senior Vice President 200 Liberty Street, 3rd Floor (o) +1 212-915-6387 XL Insurance New York, NY 10281 (m) +1 201-214-1138 Questions?