Space insurance premiums rose by 2x-3x in late 2019 and the increase is holding — so far

by Peter B. de Selding

WASHINGTON — Space insurance underwriters’ decision in late 2019 to double and even triple premium rates after a loss making year appears to be holding in the market even if some satellite fleet operators are trying to reduce their insurance exposure as a result.

But even this large rate boost is unlikely to result in much of a rise in total premium volume this year over 2019, when it was about $500 million.

Claims that year were $800 million, and would have been a lot worse but for the fact . . .

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