A geostationary satellite antenna fails to deploy, triggering a record insurance year
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A newly launched high-throughput geostationary satellite suffered an anomaly during deployment of its main reflector, sharply reducing the capacity it could deliver. Combined with other losses, the year produced claims far in excess of annual premium in the specialty space insurance market, and several underwriters subsequently reduced or withdrew capacity. The episode illustrates the structural fragility of insuring very large single assets: one deployment mechanism on one spacecraft moved the price of risk for the entire industry.
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Connections · 2
- Space insuranceconcerns
- Satellite communicationsconcerns
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