Analysis: The expansion of the global space market: What opportunities does this present to insurers?
It is 55 years since underwriters at Lloyd’s penned the first space insurance policy, covering the Intelsat I ‘Early Bird’ satellite. Today there are more than 2000 active satellites orbiting the planet and the accelerating commercialisation of space is pushing today’s underwriters to come up with more sophisticated solutions for cover and pricing
Space might be infinite, but the insurance market that covers our extraplanetary activities has more defined limits.
Figures from Axa XL suggest the space insurance market accounts for just 0.01% of
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