The space insurance market, after several years of historically high insurance premiums, appears to be headed toward lower rates for proven satellite and launch hardware — on the condition that the sum insured remains modest, according to Philippe Montpert, the president of Aon Explorer, the Paris-based arm of Aon Corp. of Chicago. Montpert said Aon is completing a two-launch package on behalf of the Arabsat organization of Riyadh, Saudi Arabia — two EADS Astrium-built satellites to be launched aboard International Launch Services Proton-M rockets — and has been able to secure premiums for several points lower than prevailing rates several months ago.
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