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Russia: Space Agency prepares draft concept for spacecraft launch risks

August 7, 2014 - 6:00am

The Russian Federal Space Agency has prepared a draft concept on property insurance to cover risks during spacecraft launches funded by the federal budget, reports Forinsurer.

The draft states that the move is aimed at cutting financial losses from failed launches. Not many spacecraft have been insured so far, but there have been efforts in recent times to improve insurance uptake. The concept will have to be approved by some departments, before being forwarded to the government, Forinsurer reported.

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