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Russia: Express-AM4R's failed launch covered by insurance

May 20, 2014 - 6:00am

A Russian Proton-M rocket carrying the 'Express-AM4R' satellite recently crashed and the launch was covered by insurance, Forinsurer reported.

Risks related to startup and operations of the satellite were insured with Ingosstrakh Insurance Co. for 7.8 billion Russian rubles ($225.4 million).

Meanwhile, risks related to third-party liability were insured for RUB 6 billion ($173.4 million). The risks are reinsured in the international market.

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