An insurer's view of the space business

In this article the author assesses trends in the major parameters governing space insurance over the past decade. Following the series of launch failures in the mid-1980s premium rates rose sharply, and they have generally remained high — too high, clients sometimes feel. Yet the insurers' financial balance remains consistently negative. The industry leaders can now perhaps bring stability to premium rates, and the climate could be further improved if policies more clearly defined responsibilities and liabilities. However, clients must beware of destroying the space industry market by taking advantage of its momentary weaknesses.