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Space risks insurance

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Ingosstrakh is rightfully considered to be the leader in the Russian space insurance market. The company is successfully cooperating with space industry leaders and is a member of the Russian Association of Aviation and Space Insurers (RAAKS) as well as a number of foreign pools of space risk insurers (La Reunion Spatiale and SCOR). The stable financial position of the company enables us to underwrite considerable portions of risks, which for some projects can reach up to USD 20 million.

Rocket and space equipment insurance

Insurance objects:

• rocket and space equipment;
• components of spacecraft, launch vehicles and upper stages;
• space-industry land infrastructure;
• expenses related to re-launch of rocket and space equipment.

Insurance coverage:

• risks of damage and full or partial loss of insured objects.

Liability insurance

Insurance objects:

• the Insured’s statutory obligation to reimburse damage to life, health or property of third persons, if such damage has been caused by its space activities.

Insurance covers the following stages:

• pre-launch preparation of rocket and space equipment in launch areas;
• spacecraft launch to orbit;
• spacecraft testing on the orbit;
• spacecraft operation on the orbit;
• return of reentry vehicles and capsules to the earth surface (for reentry objects).

Insurance against loss of income

Insurance objects:

• the Insured’s property interests not contradictory to the current laws, related to reimbursement of its loss of income and indirect costs that have arisen in the process of manufacture, preparation, launch and operation of rocket and space equipment.

Insurance covers the following stages:

• manufacture of rocket and space equipment;
• transportation of rocket and space equipment or its components from the manufacturing plant to the launching site;
• pre-launch activities;
• spacecraft launch to orbit;
• spacecraft testing on the orbit;
• spacecraft operation on the orbit;
• return of reentry vehicles and capsules to the earth surface (for reentry objects).

The insurance premium amount depends on the following factors:

• operation statistics of rocket and space equipment;
• the amount of insurance coverage;
• number of units of rocket and space equipment covered by the insurance;
• the condition of the international insurance market.