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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

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RMWG Outbrief October 11, 2007

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  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

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