1 / 16

RMWG Outbrief October 11, 2007

RMWG Outbrief October 11, 2007. Chris Kunstadter Vice President XL Insurance (+1) 212-321-6510 chris.kunstadter@xlgroup.com. Agenda. The state of the space insurance industry RMWG Topics. Recent Issues in Space Insurance. Third-Party (Liability) Insurance Impact of Proton failure

bona
Download Presentation

RMWG Outbrief October 11, 2007

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. RMWG OutbriefOctober 11, 2007 Chris Kunstadter Vice President XL Insurance (+1) 212-321-6510 chris.kunstadter@xlgroup.com

  2. Agenda • The state of the space insurance industry • RMWG Topics

  3. Recent Issues in Space Insurance • Third-Party (Liability) Insurance • Impact of Proton failure • Chinese ASAT test • First-Party (Physical Damage) Insurance • Losses in 2007 exceed premium • Delays in Sea Launch and Proton launches

  4. Proton Launch Failure in Kazakhstan

  5. Recent Debris Events in LEO Chinese ASAT Test, 11 Jan. Estimated debris >5-10 cm from Jan & Feb 2007 breakup events: FY-1C (Jan 11): >2,200 pieces Beidou 2A (Feb 2): 100 pieces Proton Aux Motor (Feb14): 60 pieces CBERS 1 (Feb18): 24 pieces Briz-M stage (Feb19): 1,000 pieces www.centerforspace.com Breeze-M Explosion, 19 Feb. Proton Aux Motor Explosion, 14 Feb. www.st-suunnittelu.fi/romu/

  6. The Insurance Market Cycle Profitability Profits Rise Increased Capacity Rates Increase Seek Market Share Flight to Quality Relaxed Underwriting Hard Market Soft Market Capacity Decrease Rates Decrease Insolvencies/Withdrawals Inadequate Rates You are here? Inadequate Reserves Mounting Losses

  7. Insured Launches

  8. Market Exposure In Orbit

  9. Launch Vehicle Failure RatesCurrent GEO launch vehicles* Average * Current GEO launch vehicles included in this survey are: Ariane 5, Atlas 5, Delta 4, H-2A, Long March 3A/B/C, Proton M/Breeze M, Soyuz Fregat & Soyuz 2, Zenit 3/SL

  10. Satellite Failure RatesCommercial communications satellites1st year (i.e., “post-separation/IOT” phase)By manufacturer*, since 1997 15.8% Average * Major “Western” manufacturers of commercial communications satellites included in this survey are AAS, Antrix, Astrium, Boeing, LM, Loral, Orbital

  11. Satellite Failure RatesCommercial communications satellites2nd & subsequent years (i.e., “in-orbit” phase)By manufacturer*, since 1997 Average * Major “Western” manufacturers of commercial communications satellites included in this survey are AAS, Antrix, Astrium, Boeing, LM, Loral, Orbital

  12. Split of Claims Between Launch and In-Orbit Phases

  13. Annual Premiums and Losses

  14. Total Cumulative Return for Space Insurance Market(since 1998)

  15. RMWG Topics • Commercial human spaceflight task force • Subgroup of RMWG • Brainstorming and developing agenda for topics to be brought to the full RMWG • Specifically looking at human spaceflight issues • Ongoing effort

  16. Topics for further study • Requirements and availability of insurance for personal space flight • FAA safety regulation of human space flight • Inter-party waivers of liability • State-based legislative initiatives • MPL calculation methodologies • Definition of third parties under concurrent operations • Application of industry standards

More Related