German reinsurance giant Munich Re has partnered with certification and inspection company TÜV SÜD and Hyperloop Transportation Technologies on the first set of Hyperloop core safety requirements and certification guidelines as well as the first insurance framework for HyperloopTT worldwide systems.
Hyerpool TT is an American research company aiming to develop and implement a kind of high speed transport system consisting of low pressure tube trains travelling at speeds of up to 800mph. The concept was popularised by Tesla Co-founder Elon Musk in 2013.
During a private meeting held at TÜV SÜD’s global headquarters in Munich, Germany, several of HyperloopTT’s partners and stakeholders, together with government representatives, were introduced to the first set of the new guidelines and products.
Additionally, a roadmap for joint creation and adoption into a final legal framework for regulating the construction and safe operation of Hyperloop systems was discussed
In attendance were representatives from Ukraine, China, France, and the United States all of whom have existing agreements with HyperloopTT.
“TUV SUD has been working intensively with HyperloopTT over the past year,” said Ferdinand Neuwieser, CEO of TÜV SÜD Industrie Service GmbH.
“As a global leader in this field, TÜV SÜD will contribute to making the innovative technology of Hyperloop reliable and safe. The potential risks for passengers and others will be reduced to a minimum.”
“Furthermore the guideline will form a strong basis for standardisation, regulation and certification of Hyperloop systems.” The final version of the guideline is expected to be published in Q1 2019.”
“Last year we told the world that HyperloopTT’s system was insurable,” said Claudia Hasse, Head of special enterprise risks at Munich Re.
“We are now able to insure their first commercial projects around the world and are working together to include our services into HyperloopTT’s technology license.”
“HyperloopTT is the first company to have an insurable commercial system,” said Dirk Ahlborn CEO of HyperloopTT.
“We have proven the technology to be feasible at every level and through our work with these partners, stakeholders, and governments we are creating the safest, most secure system possible.”
