Space risks : a new generation of challenges

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      <subfield code="a">Space risks</subfield>
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      <subfield code="c">an insurers perspective from Allianz Global Corporate & Specialty</subfield>
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      <subfield code="a">With six failures in the last year, Russias space industry has had a run  of bad luck. Its most recent disaster, the loss of the Meridian 5 military communications satellite, did not go unnoticed. Owing to a fault in its Soyuz carrier rocket, the satellite crashed in Siberia on December 23, 2011, not far from populated areas. But such events are extremely rare  the risk of a piece of space hardware falling back to the ground and causing extensive damage remains very low; chances of a collision between Earth and a large meteorite are greater. Most space debris, whether natural or man-made, burns up in the atmosphere and rains small, harmless pieces over the oceans, which cover two-thirds of the Earths surface. Naturally, damages can ultimately be covered by insurance. This report examines space-related risks, their consequences and the extent to which they can be prevented and insured against</subfield>
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