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Guardians of the galaxy—insurance in space

Published on: 10 January 2020
Published by: LexisPSL
  • Guardians of the galaxy—insurance in space
  • As space becomes increasingly commercialised, so too has the diversification of risk management in the space sector. Could you give a brief overview of the history of space insurance and the range of insurance products now available?
  • How does the concept of liability work in space in relation to insurance?
  • Are there any legal issues that arise from the application of insurance in space?
  • Are there any non-legal issues that make the application of insurance in space more difficult?
  • With the recent intensification of satellite launches and the growing threat posed by space debris, insurers will be forced to address the risks associated with ‘mega-constellations’ of satellites and the increased congestion that they bring. How do you think insurers will react to the increased risk? Do you think that the growing risk will eventually make satellites uninsurable?
  • If an insured space product (eg a satellite) re-enters Earth’s atmosphere and crash lands, causing considerable damage, would the fact that the object in question has returned to more familiar insurance territory have any bearing at all on insurance outcomes (eg liability, payouts, etc) than if it had crashed in space instead (eg into another satellite)?
  • Are there any dispute resolution structures in place to allow parties to resolve space-related insurance claims?

Article summary

Insurance & Reinsurance analysis: Katarzyna Malinowska, director of Centre of Space Studies at Kozminski University, takes a look at the subject of space insurance. In this interview, she discusses the history of space insurance, how the concept of liability in space works, as well as the insurance risks posed by new threats, including space debris and satellite ‘mega-constellations’. or take a trial to read the full analysis.

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