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International

Insurers cover Russian satellite for $32.5 million

February 10, 2016 Reprints

Russia-based Ingosstrakh Insurance Co. and Sogaz Insurance Group have insured Russian satellite 'Glonass-M' and its launch vehicle for 2.5 billion Russian rubles ($32.5 million), TASS News Agency reported.

The insurance contract covers risks associated with flight testing and satellite launching as well as loss in case of an emergency start-up, said Sogaz.

The satellite was launched on Feb.7, and its insurance ends three months from the date of launch, added Sogaz.

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Insurers cover Russian satellite for $32.5 million

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