A single crash of a rocket in 2019 cost more than over $411 million to space insurers, who provide insurance cover for space missions. Last year, the total premiums collected in the space insurance market globally was $550-600 million, but claims totalled $1 billion.With an increasing number of launch failures, communication problems and space debris, space insurance has come to be categorised as a high-risk field of insurance. With India becoming a key space economy, the significance of... Read this story
