Ironshore, Starr Partner to Offer Commercial Satellite Launch Insurance

[07-28-10] Ironshore has partnered with insurance company Starr Group to offer commercial satellite risk protection for launches through a treaty reinsurance program, the companies announced July 27.
    Starr will underwrite satellite launch and in-orbit insurance under the new program, insuring up to $30 million on a single launch or $35 million on a dual launch. Ironshore will shoulder 10 percent of the coverage. The companies said the cost of a failed launch, which can exceed $200 million, is both determined and written into the insurance plan a year before launch.
    The program includes up to 12-year annual policies to protect satellite replacement with performance deductibles written into the policy to determine spacecraft value and launch rates.