$250 million claim filed over loss of satellite
Posted On: Nov. 20, 2019 4:55 AM CST
Aerospace firm China Satellite Communications Co. Ltd. has filed a $250 million insurance claim for the loss of its ChinaSat-18 satellite, which has not made contact since reaching orbit, SpaceNews reported. The satellite, launched Aug. 19, was initially underwritten by The People's Insurance Company of China Ltd., ChinaSat-18 was reinsured on the international market.