Centro de Documentacion de Fundación MAPFRE - Falling satellite insurance premiums put market at risk of major upheaval

Notes: Sumario: The price of insuring a commercial satellite's launch and first year in orbit has dropped by around 50 percent in the past six years and has left the market vulnerable to a violent shock that could occur with just one launch failure, insurance underwriters said. For insurers, the nightmare scenario is the failure of Europe's Ariane 5 rocket, which unlike competing vehicles typically carries two satellites at a time into orbit. On at least three occasions in the past three years, Ariane 5 launches have carried satellites whose combined insurance coverage is $750 million, according to figures compiled by XL Insurance of New York. Given that total insurance premiums for the global space insurance market do not exceed $1 billion, the failure would wipe out 75 percent of the year's premium income in a single strokeRelated records: En: Space News .- Springfield : Space News International. - 2 March, 2012 ; 2 p.Materia / lugar / evento: Seguro espacial Industria aeroespacial Navegación espacial Mercado de seguros Other categories: 326.2