Hyperloop Transportation Technologies (HyperloopTT) working in-conjunction with TÜV SÜD and Munich Re has outlined the first draft of core safety requirements, certification guidelines and insurance framework for its transportation systems. The firm says that it has achieved a major milestone by announcing regulation and insurance for its products.
TÜV SÜD is a renowned certification and inspection firm, while Munich Re offers primary insurance and insurance-related risk solutions.
At a meeting at TÜV SÜDs global headquarters, several HyperloopTT partners and stakeholders and government representatives, were introduced to the first set of guidelines and products, said a statement from HyperloopTT.
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, said Ferdinand Neuwieser, CEO of TÜV SÜD Industrie Service GmbH.
Neuwieser also said that his firm has been working intensively with HyperloopTT over the past year.
Claudia Hasse, head of special enterprise risks at Munich Re added, Last year we told the world that HyperloopTTs system was insurable. We are now able to insure their first commercial projects around the world and are working together to include our services into HyperloopTTs technology license.
The statement said that a roadmap for the joint creation and adoption into a final legal framework for regulating the construction and safe operation of Hyperloop systems was also discussed. The meeting was attended by representatives from Ukraine, China, France, and the United States, all of who are said to have existing agreements with HyperloopTT.
Hyperloop will change transportation as we know it. It is our responsibility to make sure that future technologies are regulated and safe, and today represents the foundation of a safe and reliable commercial Hyperloop system, said Volodymyr Omelyan, minister of infrastructure of Ukraine.
Grace Gallucci, executive director of Northeast Ohio Areawide Coordinating Agency commented, The creation of regulations and legal frameworks are critical components to our ongoing feasibility study between Chicago and Cleveland. We look forward to continuing to work alongside HyperloopTT and their partners to implement these guidelines and policies into a framework specific to the Great Lakes Hyperloop.
HyperloopTT CEO Dirk Ahlborn said his firm was the first to have an insurable commercial system. 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, he explained.
