The final frontier
It might be the final frontier for Star Trek fans but not for the London Market. We’ve been offering specialist cover for rockets, satellites and everything in between since 1965 when we insured Intelsat I, the world’s first commercial communications satellite.
In 2014, we were the insurers for Virgin Galactic’s space flight test rocket which broke up in flight and crashed in the Mojave Desert in California. This was a tragic and unexpected loss. But the market was able to settle pay compensation, worth tens of millions of dollars, in just five working days.
When disaster strikes, paying up fast helps make all the difference. In this case it enabled Virgin to extend its search to retrieve as much wreckage as possible and really understand what went wrong so it could make space travel safer in future.