At ~$400 million, Vega launch failure with UAE’s FalconEye 1 may be biggest-ever space insurance loss

by Peter B. de Selding

PARIS — The July 10 failure of Europe’s Vega light-lift rocket carrying the United Arab Emirates Armed Forces FalconEye 1 optical reconnaissance satellite will cost insurance underwriters more than $400 million in what may be the largest insured satellite failure ever.

An insurance claim for that amount of money — one insurer said the total package was around $420 million — will also consume most of the space insurance premium volume expected this year.

Combined with other, less-costly claims, it will almost certainly make 2019 a loss . . .

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