Space Insurance So Far Immune To Financial Market Woes

摘要

Space insurance is not getting any more expensive or harder to obtain despite the well-publicized financial problems of some large underwriters and the fact that the decline in global stock markets has forced insurers to lean on premium income as a revenue source, insurers said.rnInstead, insuring satellites and launch vehicles appears, at least for now, to be an island of calm in a sea of tumult, underwriters and brokers said here April 2-3 during the 15th International Space Insurance Conference, organized by Pag-nanelli Risk Solutions.rnAs is to be expected, brokers said this is good news. Underwriters warned that new entrants into the space insurance market are forcing premium rates downward to a degree that risks a repeat of the late 1990s, when losses forced some players out of thernmarket and resulted in a sharp increase in insurance rates.