Economics 3364A/B Study Guide - Quiz Guide: Insurance Broker
25 Oct 2020
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Insurance coverage phases: the first space insurance policy was pre-launch and third-party damage only. What is insured today: launches and lifetime, communications satellites in geo, meo and leo. Iss cargo spacecraft: weather satellites, earth segments. Launch: the main thing that is launched is satellites. Usually measured by mass as they are weightless in space. In 2017 there were 91 launches to orbit. 6 launches failed but only 2 of these were insured. 55 launches were insured but some carried only cubestats. Approximately 460 satellites on the 91 launches: average historic failure rate is about 5% Geo: 1484 objects in geo as of 2016. 214 of these are insured (45%) (14% of 1484) 58 satellites are insured (5%: manufacturing. Covers manufacturing, assembly and testing of hardware while on site. Similar to non-space industrial coverage: pre-launch coverage. Intentional ignition of the launch vehicles first stage engines. Space insurance: only really talking about insuring commercial satellites i. e. ones that make money.
