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Analyst: Space Insurance Rates Going Up
Posted 24 March 2008 - 09:01 AM
"Claims for 2007 are estimated to reach $835 million, which includes the failure of the Sea Launch rocket carrying the NSS-8 satellite in January and the September Proton failure that destroyed JCSat-11."
More at this Satellite Today article: http://www.satellite...news/22481.html
Posted 24 March 2008 - 09:23 AM
DISH has "self insured" for the last few years when it was determined that the cost of insurance was higher than the cost of losing a satellite. It will hurt when they lose a satellite, but overall they are saving money. Insurance is good for the smaller companies that can't absorb a loss.
While satellites are expensive there are a lot of big companies that self-insure their business. Every time rates go up it convinces more companies to take the risk on themselves.
Posted 24 March 2008 - 09:25 AM
With all the debris and satellites orbiting the Earth someone's going to have to come up with a collision insurance rider soon.
Posted 24 March 2008 - 09:26 AM
Posted 24 March 2008 - 09:44 AM
The satellite is only covered if it is hit by a ficus.
Did the Chinese have any of those on the satellite they blew up last year?