Space insurance News

SpaceX Satellites Falling Out of Orbit After Being Hit by Solar Storm

SpaceX’s newest fleet of satellites is tumbling out of orbit after being struck by a solar storm. Up to 40 of the 49 small satellites launched last week have either reentered the atmosphere and burned up, or are on the …

NASA Concerned About SpaceX Satellite Deployment Plan

The National Aeronautics and Space Administration (NASA) raised concerns about SpaceX’s plan to deploy about 30,000 satellites for its Starlink, as have some major companies. Elon Musk’s SpaceX previously received authorization for about 12,000 satellites to offer broadband internet and …

Russia Missile Test Creates New Belt of Space Junk, Escalating Threat to Satellites

The Russian missile test that shattered a dead satellite this week highlights a growing threat of space debris just as companies such as SpaceX and Boeing Co. make plans to launch as many as 65,000 commercial spacecraft into orbit in …

Insurers Pull Back as Risks of Satellite and Space Debris Collisions Surge

An ever-swelling amount of space debris is threatening satellites that hover around Earth, making insurers leery of offering coverage to the devices that transmit texts, maps, videos and scientific data, industry sources said. Thousands of new satellites are being launched …

Bezos’ 2021 Space Odyssey Is a Risk Too Far for Insurers

Launching one of the richest individuals on earth into orbit has proved a leap too far for insurers, who are not ready to price the risk of losing Jeff Bezos or his fellow space travelers. Amazon CEO Bezos, a lifelong …

AXA XL Partners with SpaceAble to Support Operators with Satellites in Low Earth Orbit

AXA XL Insurance announced it has established a global partnership with SpaceAble, a start-up specializing in space situational awareness (SSA), to better support satellite operators and organizations operating in space. Based in France and a leading European SSA service provider, …

UK Space Industry Aims to Remove Dangerous Space Junk from Orbit

A defunct satellite spent early April hurtling through space toward the body of an old rocket, threatening a collision that the European Union’s Space Surveillance and Tracking Consortium estimated could generate more than 4 million pieces of debris. In the …

Debris Could Threaten Operations in Space – as Well as Earthbound Activities

Hiscox, the specialist insurer, has called for action to tackle the growing problem of manmade space debris and the threat posed to current and future space operations. According to figures from the European Space Agency, there are believed to be …

Japanese Lunar Exploration Firm ispace Raises $28M and Inspires Moon Insurance

The Japanese lunar exploration firm, ispace, which is developing spacecraft to carry people to the moon, just raised $28 million from the four organizations for its Series B investment round. The firm, which aspires to be a “gateway for the …

Lloyd’s Launches Space Insurance Policy for Emerging Private Space Sector

Lloyd’s has launched a new multi-million-pound space insurance policy for the emerging private spaceflight industry. The product is designed to cater to the distinct needs of a rapidly growing new space sector, which, according to Lloyd’s, could be the driving …