Insight and Intelligence on the Global Facultative Markets

19 May 2012

SkyTerra satellite glitch could cost $268mn

6 December 2010

An antenna glitch on a SkyTerra 1 mobile communications satellite threatens to cost the niche space insurance market up to $268mn, Inside FAC understands.

Meanwhile, yesterday's loss of three uninsured Russian satellites could delay subsequent launches, reducing premium income for the year.

It is a bad end to 2010 for the space insurance sector, following the EUR245mn ($325mn) Eutelsat W3B satellite loss in November.

Should SkyTerra 1 prove to be a loss it will put underwriters into deficit for the...

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