Space insurance is the financial protection and risk-sharing regime that protects those involved in space activity from loss of assets, business interruption, and third-party liability for bodily injury and property damage. The first space insurance policy was written in 1965, to protect COMSAT, the US signatory to INTELSAT, from liability arising from their involvement in deployment of the earliest INTELSAT satellites. Since then, space insurance has expanded to become a critical resource that enables innovation and investment in space activity, as well as unlocking the economic potential and providing an economic safety net for the risks associated with space activity.
Small Satellites and Risk management, Insurance, and Liability Issues
Handbook of Small Satellites ; Kapitel : 60 ; 1029-1039
13.09.2020
11 pages
Aufsatz/Kapitel (Buch)
Elektronische Ressource
Englisch
Wrap-around coverage , Insurance exclusions , Indemnification , Insurance coverage , Actual financial loss sustained , Liability claims , Insured vs. uninsured launches , Satellite failure , Satellite value chain , Warranty payback coverage , Pooling , Asset protection , Underwriting criteria , Space insurance , Market dynamics , Risk , Launch insurance , Fortuity , Launch risk guarantee , Underwriting process , Ancillary coverage , Business interruption , Low-value launches and satellites Space Sciences (including Extraterrestrial Physics, Space Exploration and Astronautics) , Communications Engineering, Networks , Physics and Astronomy , Aerospace Technology and Astronautics , Monitoring/Environmental Analysis , Physics
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