Final Frontier Insurance Co., Ltd., a single-parent captive established in the District of Columbia by Space Exploration Technologies Corp. (SpaceX), was approved on August 25.

        Lorelei Peter, assistant chief counsel for regulations at the U.S. Federal Aviation Administration, wrote on August 4, 2016 to Caryn Schenewerk, senior counsel and director of government affairs at SpaceX, discussing the possibility of establishing a captive insurer under 14 CFR §440.9—"Insurance requirements for licensed or permitted activities"—and recommending that the matter be discussed on a case-by-case basis.

        Space Exploration Technologies Corp. (SpaceX) is an American space transportation company founded in June 2002 by PayPal and Tesla Motors entrepreneur Elon Musk. It developed the partially reusable Falcon 1 and Falcon 9 launch vehicles, and also developed the Dragon series of spacecraft launched into orbit by the Falcon 9.

       SpaceX won a NASA contract in 2006 to design a launch system to resupply the International Space Station (ISS), and it has completed nine resupply missions to date.

       On the morning of September 1, U.S. Eastern Time (the early hours of September 2, Beijing Time), a SpaceX Falcon 9 rocket exploded and disintegrated on the launch pad at Cape Canaveral Air Force Station in Florida. The rocket carried a US$200 million satellite owned by an Israeli satellite communications company for Internet.org, the venture led by Mark Zuckerberg; the satellite was to be used by Facebook to provide internet access to parts of Africa.

       It is not yet clear whether Final Frontier Insurance Co., Ltd. bears insurance liability for the aforementioned explosion of the SpaceX rocket and satellite at Cape Canaveral, Florida.

        SpaceX is headquartered in California, has about 4,000 employees, operates a launch site at Cape Canaveral, Florida, locates its rocket development division in Texas, and maintains offices in Houston, Virginia and Washington.

Source: Captive Review