Commercial Infrastructure and Support Industries
Space Insurance
2008 – Space Insurance – Snapshot
The satellite insurance industry had a positive year in 2008 due to successful launch experience. Launch insurance prices increased for 2009, bringing rates from the ##-##% range back up to the ##-##% levels seen in the earlier part of the decade. According to XL Insurance, a space industry specialist, 2008 premiums were $## million, against $## million in claims. The upward pressure on premiums stemmed largely from events in 2007 when claims of $## million due to launch failures surpassed premiums of $## million.
2007 – Space Insurance
Revenue from space insurance premiums is estimated to be lower in 2007 than in 2006. This is partially due to the loss of the NSS-8 satellite from the January explosion of Sea Launch’s Zenit-3SL. Several insured launches were postponed as a result. Pagnanelli Risk Solutions, an insurance consultancy, estimates total premiums of between $## and $## million.
2005 – Space Insurance
The revenue for space insurance in 2005 was $## million.
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