PARIS — Space insurance underwriters are bracing for what may be their third consecutive money-losing year as premium income remains stunted by previously low rates and losses already total some $340 million.
Much will depend on whether insured launches delayed by Covid-19 spaceport shutdowns occur as quickly as scheduled, and whether heavily insured missions coming up by SpaceX, Arianespace and Russia all succeed.
This year’s claims are expected to include a $252-million loss from the March failure of a China Great . . .
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