Munich Re Syndicate Limited has been underwriting space risks for more than 25 years and, as a result, has forged close relationships with many manufacturers and operators in this business. The space account consists of risks relating to the launch, commissioning and in-orbit operation of communication and earth-observation satellites for both commercial and military organisations.
Our underwriting team is passionate about spacecraft design and operation, and it has wide-ranging knowledge of the engineering aspects thereof. This experience and dedication is essential for the successful underwriting of an extremely specialised business.
- Coverage is predominantly offered to operators and manufacturers of satellites and rockets domiciled worldwide
- The Syndicate writes a maximum line of USD 30 million for any one satellite
- Business is generally written through London Market brokers
- All products are written on an ‘all-risks’ basis, covering loss or damage to the satellite. For launch risks, the launch vehicle can also be insured
- While coverage is generally provided for asset protection, physical loss or damage, we will also consider coverage for loss of revenue
- We do not cover war, nuclear risks, loss via interference or third-party liability