LA PLATA, Maryland — The large SpainSat NG 2 military telecommunications satellite launched in October remains stuck in its transfer orbit, apparently unable to move, raising the likelihood of a total loss of mission, industry officials said.
The failure will trigger an insurance claim of $400 million, attributed to space underwriters’ 2025 accounts, and turn what would have been a nicely profitable 2025 into a less-profitable one.
An early estimate of the year for space underwriters is for 2025 premium volume to be $675 million, with claims . . .
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