Insurance for the global space industry

The space industry is specialised, technical and risky. Volatility remains significant, fuelled by a continuing narrow spread of risk and high failure rates relative to other sectors. Risk management and insurance planning therefore form a key part of the business strategy.

Technical failure can derail even the best projects, and with long lead times for the procurement and commissioning of replacement hardware, contingency measures are difficult to find and expensive to fund. The financial impact of risk is substantial, with insurance often forming the third largest cost of a space project - exceeded only by the cost of the satellite and cost of the rocket.

Dedicated, in-house Space capabilities

Gallagher’s Aerospace division is one of the few broking houses with a dedicated team focused on space and satellite risks. We work with global satellite owners and operators, satellite service users, satellite manufactures, space tourism entities, launch service providers, launch vehicle manufacturers and space agencies. Our space team has a thorough technical and contractual understanding of the space industry. Our team experience is drawn from a variety of backgrounds, including insurance broking, aerospace engineering, underwriting and risk management. We have a wealth of experience when it comes to the design and management of space insurance programmes.

Support to help make sense of your risk profile

We offer extensive cover from the satellite insurance market, designed specifically for our clients. We support organisations throughout the entire life-cycle of their space projects; from the framing of their vision, detailed planning and contract negotiation, through to mission realisation, operational performance and business continuity strategy. Our team provides comprehensive service in connection with your insurance programme, including specialist support in the key areas of claims handling, contractual review and risk management.

Space & Satellite Insurance

  • Pre-launch insurance
  • Launch, commissioning and early orbit cover
  • In-orbit operations cover
  • Third party liability