This product is available to the title holder of the satellite during the launch phase. It provides cover against the underperformance of the launch vehicle, up until separation of the satellite

Coverage can be provided to cover the amount of revenue that an operator or owner may lose should the satellite not perform the manufacturer’s specification.

Coverage against loss, damage or failure of the satellite after the satellite has separated from the launch vehicle. This product is designed so that there is no gap in coverage with any policy that has provided coverage of the “launch phase.”

This covers transportation of the satellite from the manufacturer or place of storage to the launch site, the storage of satellite at the launch site and the preparation leading up to the launch itself including the mating of the satellite with the launch vehicle.

This provides coverage to the equipment manufacture for failure of a piece of equipment to perform to the manufacturer’s specification.

Cover against use of violence for political ends and includes any use of violence for the purposes of putting the public in fear.

Covers bodily injury and property damage to third parties as a result of launch and in-orbit activities.

Provides cover against physical loss or damage of the satellite during transit from the manufacturer’s facilities to the launch site and the integration of the satellite to the launch vehicle. Typically coverage will terminate at “lift off” or “intentional ignition.” Satellite assembly, integration and testing can also being included in this type of policy.

A satellite usually has an asset value in the range of US$ 200–400m and a service life of 15 years in orbit. The insurance covers this value, i.e. the cost of acquisition, launch, financing and insurance. The limit of indemnity for an individual satellite, and thus the indemnity payable in the event of loss, decreases over a satellite’s lifetime, in line with its depreciation in value. The insurance, which is referred to as end-of-life cover, commences with a satellite’s launch and terminates at the end of its scheduled service life, or after 15 years at most. What is new, besides the cover period of up to 15 years, is that during the term of insurance no adjustment is made to the conditions of insurance, even if the satellite’s technical condition has changed. New end-of-life cover gives clients planning security with regard to their insurance costs and scope of cover for the satellite’s entire useful life. Most satellites are funded by long-term debt. The availability of insurance cover plays a decisive role in whether a satellite project can be financed and at what cost. (Munich Re). Up to now, standard covers have comprised launch insurance, which commences with a satellite’s launching and has a term of up to one year, followed by in-orbit insurance, which as a rule is renewed annually. Prior to renewal, the satellite’s technical condition is verified and any adjustments to the scope of cover and/or price are made.