I think the real answer is that there will be a complex contractual relationship that "ownership" is too simple to describe, in either direction. E.g. I say I "own" my flat, but actually I am a shareholder in a company that owns the building and have a lease contract with that company (this is the standard (only?) way of "owning" a flat in the UK, because multiple flats stand on the same piece of land - you can't truly "own" something you don't have the right to destroy, but obviously you don't have the right to destroy a flat with someone else's above it).
> And the math there would no doubt be really interesting to an insurance company since you have the possibility that the launch is a success and the first stage lands, the launch is a success and the first stage crashes, the launch effectively fails (second stage failure) but the first stage successfully returns, and both stages are lost. That is a number of different outcomes to insure.
The insurance industry already deals with far more complex scenarios. A ship on an ocean voyage will often have the hull and cargo insured separately, different loss layers insured separately (e.g. first 10% of losses, 10-20%, 20-100% all separate), with multiple underwriters on each layer (and sometimes the same underwriter on multiple stamps).
> And the math there would no doubt be really interesting to an insurance company since you have the possibility that the launch is a success and the first stage lands, the launch is a success and the first stage crashes, the launch effectively fails (second stage failure) but the first stage successfully returns, and both stages are lost. That is a number of different outcomes to insure.
The insurance industry already deals with far more complex scenarios. A ship on an ocean voyage will often have the hull and cargo insured separately, different loss layers insured separately (e.g. first 10% of losses, 10-20%, 20-100% all separate), with multiple underwriters on each layer (and sometimes the same underwriter on multiple stamps).
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