The cost of space insurance is set to rise following a crash involving a Vega rocket. The incident represented the largest loss ever recorded in the space market at $411m, with experts predicting that insurance premiums for commercial satellite and rocket accidents will now rise to rebalance the risks involved. Space insurance prices have fallen over the past 15 years due to improved rocket reliability and strong competition among insurers.
The cost of space insurance is set to rise following a crash involving a Vega rocket. The incident represented the largest loss ever recorded in the space market at $411m, with experts predicting that insurance premiums for commercial satellite and rocket accidents will now rise to rebalance the risks involved. Space insurance prices have fallen over recent years due to improved rocket reliability and strong competition among insurers.