Space

Our team has deep underwriting experience of the risks and exposures built into space activities and has developed a unique wealth of industry knowledge. Our philosophy is to offer a high level of service, reactivity and flexibility, while building long term relationships with both clients and brokers.

What we offer

Asset physical damage
Space third-party liability and associated aerospace liabilities
Commercial spaceflight covers
On-orbit servicing covers
Loss of revenue
Business interruption
Comprehensive covers for new space start-ups
Moon and celestial bodies exploration/exploitation insurance
Limits of $15 million - $20 million per spacecraft and $100 million for liability

How we can help

Space is becoming increasingly more crowded and competitive as private investment is flowing into smaller and agile ventures, with very different risk management approaches and exposure than the established industry giants and the state agencies. As more start-ups enter the sector increasing competition in areas such as Earth observation, human spaceflight and planet exploration, this presents many new opportunities for the insurance industry to promote and enable real innovation in the dynamic and robust space sector .

Who we can help

Satellite operators
Spacecraft and space systems manufacturers
Launch vehicle providers
Launch solutions aggregators
Start-ups and venture capital
Satellite transponder users
Government entities and Space Agencies
International organisations
Financial organisations

WHERE IS THIS OFFERED?

Worldwide

The Beazley Difference

BEING BOLD

Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in thea world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.

STRIVING FOR BETTER

Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.

DOING THE RIGHT THING

Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.

Examples or Scenarios

Launch failure leads to the total destruction of the satellite. A failure may also lead to an explosion and debris, generating damage to property and casualties on the ground.
In-orbit anomaly causes a degraded performance and/or mission life of the satellite.
Incident during the satellite transit to the launchpad leads to damage on the satellite.
Onboard satellite anomaly causing claims for loss of revenue and business interruption by advertisers against owner of the satellite / broadcasters.
Non-nominal performance of a spacecraft during a planetary mission.