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Guest Message by DevFuse

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Analyst: Space Insurance Rates Going Up


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5 replies to this topic

#1 OFFLINE   FTA Michael

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Posted 24 March 2008 - 09:01 AM

Just like anywhere else, if you have too many accidents, then your insurance goes up.

"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
Yes, FTABlog is active again. Why do you ask?

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#2 OFFLINE   Grentz

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Posted 24 March 2008 - 09:22 AM

Not really a shocker. 2 failed launches equals higher rates in the future.

Pretty logical :)
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#3 OFFLINE   James Long

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Posted 24 March 2008 - 09:23 AM

The only way insurance companies make money is to collect more in payments than they pay out. With those two major launch providers having downtime not only were there payouts but there were less launches to insure (less premiums paid).

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.

#4 OFFLINE   tcusta00

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Posted 24 March 2008 - 09:25 AM

I didn't even know there were insurance companies out there willing to insure such expensive things... but I guess if you've got the money some actuary will figure out how many dollars it would cost to transfer that risk.

With all the debris and satellites orbiting the Earth someone's going to have to come up with a collision insurance rider soon. :D

#5 OFFLINE   James Long

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Posted 24 March 2008 - 09:26 AM

The satellite is only covered if it is hit by a ficus. :lol:

#6 OFFLINE   tcusta00

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Posted 24 March 2008 - 09:44 AM

The satellite is only covered if it is hit by a ficus. :lol:


Did the Chinese have any of those on the satellite they blew up last year? :lol:




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