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Space & Satellite - Sleeping satellite.
(From Post Magazine)
Few lines of insurance seem to echo the reality of the risks covered as directly as the space insurance market. The failure of a rocket on take-off, or of an array of satellites, could cost insurers up to $400m (GBP219.8m). Non-space insurers could also face huge knock-on claims, such as for liability or business interruption losses by telecommunications companies that are dependent on the satellites.
A satellite might not even need to get off the ground to prove a catastrophe.
Last December, for example, the communications satellite Spainsat, built by Space Systems/Loral, was dropped while being loaded into a shipping ...
- Space insurers see course change on coverage terms; 10th International Space...
- Magazine article from: Business Insurance Shapiro, Stacy July 29, 2002 700+ words
...month. Currently, the space insurance market is the hardest...sharply higher pricing, space insurance underwriters are imposing...story, page 19). The space insurance market can expect some...Clapham, underwriter for Lloyd's of London's Marham...
- London-based Atrium Underwriting is getting involved in the space insurance...
- Magazine article from: Best's Review March 1, 2007 700+ words
...AGENCY LTD. will write space insurance from the end of January on behalf of a number of Lloyd's syndicates, including...under the name ATRIUM SPACE INSURANCE CONSORTIUM and has already been approved by Lloyd's as a cover holder...
- Client Relationships Sustain Health of Lloyd's Aviation Insurance Market
- Press release article from: PR Newswire September 16, 1996 700+ words
...demand almost daily involvement by Lloyd's underwriters in claims settlement discussions. Lloyd's representatives are available...their airline industry customers. Space insurance The key role played by Lloyd's underwriters in the insurance...
- First U.S. brokers gain direct access to Lloyd's.(Brief Article)(Statistical...
- Magazine article from: Business Insurance Unsworth, Edwin July 30, 2001 700+ words
...place commercial risks with Lloyd's of London is a milestone in Lloyd's drive to attract more...International Space Brokers, a space insurance specialist, brings to 129...that have direct access to Lloyd's. And because the United...
- World Updates; Lloyd's reaches record-high capacity.
- Magazine article from: Business Insurance January 12, 2004 700+ words
...billion), according to a Lloyd's statement. By the end...reinsurance. Earlier in 2003, Lloyd's announced its intention...buys Houston broker Jardine Lloyd Thompson Group P.L.C...stake in New York-based space insurance broker International Space...
- Updates; G6 implements use of ACORD standards.(World)(Willis Group Holdings Ltd...
- Magazine article from: Business Insurance April 10, 2006 700+ words
...of Six''-or "G6''-Lloyd's of London managing agents...opportunities to streamline and improve Lloyd's market processes...focus primarily on providing space insurance and aerospace consulting services...compared with 104.2% in 2004. Lloyd's to open office in Shanghai...
- Shuttle lab insured at Lloyd's; $17.7 million cover attaches above larger...
- Magazine article from: Business Insurance Lenckus, Dave February 10, 2003 700+ words
...sources. Marine underwriters at Lloyd's of London wrote nearly...with coverage obtained in the space insurance market, according to sources...commercial marine insurance is Lloyd's syndicate 102, managed...coverage, according to sources. Lloyd's syndicate 1414, managed...
- SPACE INSURANCE CITED IN COX REPORT: POTENTIAL SECURITY RISKS SEEN IN PLACING...
- Magazine article from: Business Insurance HOFMANN, MARK A. UNSWORTH, EDWIN May 31, 1999 700+ words
...could unnecessarily boost the cost of space insurance, warn some insurance industry observers...report concerns the role of commercial space insurance in technology transfer to China...a discussion of the nature of the space insurance market, noting the highly technical...