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Space insurance rates rise after string of mishaps

Posted On: Sep. 16, 2019 6:20 AM CST

Dominique Rora, senior space underwriter at Axa XL, said that a spate of recent claims for rocket failures has increased space insurance rates and led to some insurers reconsidering their place in the market, SpaceNews reports. "There is a general market consensus that the premium volume that we are seeing today is about half of what it should be," Mr. Rora said. Reinsurer Swiss Re Ltd. exited the space insurance market in July citing "bad results of recent years and unsustainable premium rates."

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