Tag: space insurance

Marsh Seals $1B Insurance Agreement with OneWeb

OneWeb has signed an insurance policy worth more than $1 billion to cover the remaining 10 launches for its broadband constellation, after its previous policy expired following delays caused by its 2020 bankruptcy. A previous multi-launch policy arranged by insurance broker Willis expired Aug.1, OneWeb confirmed, and rival broker Marsh won the tender for the… Continue reading Marsh Seals $1B Insurance Agreement with OneWeb

Lloyd’s Launches New Space Risk Product and New Analysis of the Space Sector

Lloyd’s Reports Outstanding 2023 Results

Lloyd’s has, today, launched a new multi-million-pound space insurance policy for the emerging private spaceflight industry. The product is designed to cater to the distinct needs of a rapidly growing new space sector, which, according to Lloyd’s, could be the driving force behind a tripling in size of the global space market by 2040. The… Continue reading Lloyd’s Launches New Space Risk Product and New Analysis of the Space Sector

Munich Re Among Insurers for Failed Vega Rocket, UAE Satellite

3D rendering of a satellite orbiting the earth with illuminated cities at night. Map From: http://planetpixelemporium.com/earth.html Software for rendering: https://www.blender.org

Munich Re is one of the insurers for the European Vega rocket, which failed after take-off on Thursday, destroying a military observation satellite about to be placed in orbit for the United Arab Emirates, a Munich Re spokesman said. The combined insurance policy for the rocket and satellite totaled 369 million euros ($415.57 million) and… Continue reading Munich Re Among Insurers for Failed Vega Rocket, UAE Satellite

XL Catlin Launches New Seamless Space Insurance

Satellite In Space. 3D Scene.

XL Catlin today announced the launch of a new seamless space insurance coverage for satellite owners, manufacturers and launch providers. The new single policy covers all satellite and launch vehicle physical damage exposures from pre-launch to launch activities through deployment of the spacecraft in orbit. Chris Kunstadter, Global Head of Space Insurance said: “We have… Continue reading XL Catlin Launches New Seamless Space Insurance