The United States leads the global space insurance scene, and honestly, it’s not even close. Commercial space giants like SpaceX and Blue Origin fuel this wild growth.
Market capacity feels tighter these days, but rates have mostly steadied after some tough losses. That leaves satellite operators and launch providers navigating a tricky landscape.
Right now, the U.S. space insurance sector stands as the world’s biggest. In 2024, the market sits at around $1.1 billion.
Projections say it’ll hit $1.65 billion by 2033, with a steady 9% annual growth rate. North America holds the largest share, thanks to concentrated commercial space activity.
SpaceX launches more rockets than anyone else, and that’s created a huge insurance demand. Their reusable rockets cut costs, sure, but they also force insurers to rethink risk.
Amazon’s Project Kuiper and other mega-constellations keep pushing insurers toward parametric products. These policies pay out set amounts for specific events, skipping the old-school loss assessments.
Claims shot up to $826 million in just the second half of 2023. Most losses—over 85%—came from post-separation spacecraft issues, like the Viasat-3 and Inmarsat 6-F2 failures.
Commercial space activity keeps expanding, and that’s the engine behind market growth. Private companies now launch more satellites than government agencies, so insurance demand stays strong.
With more satellites going up, coverage needs stretch from manufacturing all the way to orbital operations. Low Earth orbit constellations face unique risks—think collisions and debris—so insurers have to get creative.
Space tourism is a whole new ballgame. Companies like Virgin Galactic and Blue Origin suddenly need coverage for human spaceflight.
Military and defense uses drive steady demand too. Secure communication and surveillance satellites need protection from launch failures and orbital threats.
University research and NASA’s commercial partnerships add more customers to the mix. Their missions are high-value and one-of-a-kind, so they need custom insurance solutions.
COVID-19 disrupted supply chains and slowed launches for a bit, but it also highlighted how crucial satellite communication is. As things rebound, companies are pouring more into digital infrastructure and orbital assets.
AXA XL stands out as a main underwriter in the American space insurance market. They’ve started tailoring policies for smaller spacecraft and big constellations, moving past the old focus on giant satellites.
Marsh Inc connects satellite operators with insurance capacity, structuring policies for multi-satellite launches and commercial ventures.
USAIG specializes in aviation and space risks, offering launch and in-orbit coverage. They focus on U.S. commercial space companies and government contractors.
Swiss Re and Munich Re, while based in Europe, have major U.S. operations and back big space risks.
Market capacity dipped a bit from 2024 to 2025 as insurers adjusted their risk models. Premium rates leveled off after previous spikes, but profit margins still feel tight.
SpaceX and other big players sometimes self-insure now, skipping the traditional market. Frequent launchers often keep risks in-house instead of buying external coverage.
Space insurance splits into a few main categories, each one covering a different phase of satellite and spacecraft operations. Each type targets specific risks—from ground construction to years in orbit.
Satellite insurance protects the spacecraft and its parts throughout the mission. Coverage usually starts during manufacturing and sticks around through the satellite’s life in space.
Property damage coverage is the backbone here. It protects against things like manufacturing defects, handling accidents, and space debris hits.
Insurance values swing wildly depending on the mission. Big geostationary satellites might need up to $400 million in coverage. They often work for 15 years, so long-term protection matters.
Small low Earth orbit satellites are a different story. They’re usually valued under $1 million and last two or three years, which changes how insurers look at risk.
Specialized payloads—like experimental tech or complex comms gear—need extra underwriting. Standard policies might not cut it for these one-off risks.
Insurance companies customize each policy to fit the satellite’s specs, mission, and environment.
Launch insurance covers the dicey part—getting satellites from Earth into space. It protects against launch vehicle failures, deployment issues, and third-party damage.
Launch vehicle reliability drives insurance pricing. Rockets with proven records get lower premiums, while new or experimental ones cost more to insure. Insurers track each rocket’s success rate closely.
With about 100 companies now working on new launch vehicles, insurers have a lot of different risk profiles to consider.
Third-party liability insurance covers damage a launch might cause to other spacecraft, ground facilities, or people. Launch states set liability rules, so coverage amounts can vary.
Modern launches often carry dozens of satellites at once. Some rockets deploy 50 to 100 small satellites, which changes how insurers structure coverage.
Package policies often combine launch and first-year orbital coverage, since satellites face their biggest risks right after deployment.
In-orbit insurance kicks in once satellites reach their spot and start working. It covers the unique dangers of the space environment.
First-year coverage is especially important. Satellites are most likely to fail during early operations, when systems deal with temperature swings and stress.
Space debris is a growing threat. Insurers now factor in collision risks from all the junk circling Earth. The crowded skies make risk assessment tricky.
Operational risks include component failures, solar panel wear, and comms glitches. Satellites have backups, but insurance steps in if those fail too.
Coverage usually lasts as long as the satellite’s expected life. Communication satellites might need 15 years, while Earth observation ones often go for 7 to 10.
Income protection is a newer angle. Policies can cover lost revenue if a satellite can’t provide its intended service because of technical issues or collisions.
The space insurance market breaks down into three main segments: coverage type, end users, and satellite orbit. Coverage follows the mission lifecycle, while end users range from commercial operators to the military. Orbit-based policies address the different risks in low Earth orbit versus geostationary positions.
Coverage types track the mission from manufacturing to disposal. Manufacturing insurance protects satellites during construction and testing, covering damage from technical errors or equipment failures before launch.
Pre-launch coverage starts when satellites reach the launch site. It covers fire, natural disasters, and handling mistakes during final prep and integration.
Launch insurance covers the riskiest phase—liftoff to orbit. Failure rates during launch usually sit between 5-10%, so operators see this coverage as essential.
On-orbit insurance takes over once satellites start working. Coverage can last from one to fifteen years, protecting against power failures, comms breakdowns, and debris collisions. This segment has grown fast as mega-constellations put up thousands of satellites needing fleet-wide protection.
Commercial satellite operators make up the biggest user group. They run communication, broadcasting, navigation, and Earth observation satellites, each worth millions. Big names like SpaceX’s Starlink and Amazon’s Project Kuiper need policies for multiple deployments.
Scientific research groups—universities and space agencies—insure expensive research missions and observatories. These often carry unique instruments, so insurers craft custom coverage.
Military and defense organizations need insurance for surveillance, secure comms, GPS, and reconnaissance satellites. Defense satellites face extra risks from anti-satellite weapons and electronic warfare, so they need special terms.
Government agencies and space tourism companies are growing segments as commercial spaceflight moves into new territory.
Low Earth Orbit (LEO) insurance covers satellites 160-2,000 kilometers above Earth. LEO satellites run into more debris and need frequent adjustments. The mega-constellation boom in LEO has forced insurers to rethink pricing and risk.
LEO policies often use parametric structures, paying set amounts for certain events. This works well for big fleets where losing a few satellites is expected.
Geostationary Earth Orbit (GEO) satellites sit at 35,786 kilometers and usually cost more than LEO ones. GEO insurance covers fewer satellites, but each one is more valuable and stays up longer.
Medium Earth Orbit (MEO) policies cover navigation satellites like GPS and Galileo. These face unique radiation risks and need special coverage for constellation-critical roles.
A few big trends are shaking up space insurance in the U.S. Mega-constellations are rewriting risk models, small satellites are changing coverage, and reusable rockets are messing with traditional pricing.
Mega-constellations have totally changed how insurers assess risk. Companies like SpaceX’s Starlink and Amazon’s Project Kuiper launch thousands of satellites at once, which creates whole new challenges.
Insurers used to cover just one satellite or a small batch. Now, they have to look at the risk across hundreds or thousands of interconnected satellites. One collision or debris event could hit a bunch at once.
Insurers have started rolling out cluster-based policies that cover whole constellations. Risk models now factor in debris probability and how well satellites can dodge trouble.
Mega-constellations also make insurers rethink partial losses. Losing 50 satellites out of 4,000 isn’t the same as losing a single, super-expensive one. New models focus on network redundancy and keeping operations running.
Premiums have shifted from high-value single coverage to spreading risk across lots of assets. This helps operators avoid massive losses but still get decent protection.
Small satellites are shaking up insurance in a big way. CubeSats and microsatellites cost way less but launch in huge numbers.
Insurers now offer products just for small satellite operators. The old minimums for $500 million satellites make no sense for a $100,000 CubeSat, so micro-policies with lower limits and simpler applications are taking over.
Launch insurance has changed too, since rideshare missions often carry dozens of small satellites. If a rocket fails, it can impact lots of customers at once. Sharing risk is now a must.
A lot of small satellite operators skip insurance altogether because replacement costs are low. That forces insurers to compete on price and make policies easier to get. Quick approvals and less paperwork are now selling points.
The boom in small satellites has also led to new specialty products. Coverage now extends to satellite constellations, ground gear, and even data services as the market matures.
Reusable launch vehicles are shaking up the way insurers think about space risk and pricing. SpaceX’s Falcon 9 boosters have flown again and again, and that’s forced insurers to reconsider what launch reliability really means.
At first, reusable rockets carried steeper insurance premiums. Insurers just didn’t have enough data to trust reused hardware, so they scrutinized every early launch.
But now, flight records speak for themselves. SpaceX boosters with proven performance tend to get better insurance deals than fresh-off-the-line rockets. It makes sense—companies that put money into reusable tech are seeing their efforts pay off.
Insurance teams are watching reusable rocket data like hawks. They care about engine refurb logs, how fast a booster gets turned around, and when parts get swapped out. Maintenance records are becoming a big deal for reliability checks.
It’s not just SpaceX anymore. Blue Origin’s New Shepard and other reusable rockets add more data to the mix, helping insurers build better risk models. The competition between these companies keeps pushing both launch prices and insurance premiums lower.
Ground processing risks look a bit different with reusables, too. Longer refurb times and extra ground handling introduce new exposures that old-school insurance policies just didn’t cover.
The space insurance world has gotten a lot more creative lately. Companies have rolled out coverage models that actually fit today’s commercial spaceflight. Now, you’ll find automated claims, policies for satellite swarms, and even coverage for space tourists.
Parametric insurance has been a real game-changer for space. Instead of waiting around for investigations, this coverage pays out automatically when something specific—like a launch failure or debris hit—happens.
Old-school insurance made everyone wait for long reviews to figure out blame and damages. Parametric policies skip all that by using set triggers: GPS data, telemetry, weather readings, you name it.
The big perks:
Space tourism companies especially love this. If a suborbital flight loses an engine at a certain height, the policy pays out—no need to argue about who messed up.
It’s also a lifesaver for weather delays. If wind speeds go past a set limit at launch, operators get paid automatically, which helps them deal with canceled passengers or crew issues.
Satellite constellations need a totally different insurance approach than single spacecraft. Blanket coverage takes care of entire fleets under one set of rules, instead of making you buy a policy for each satellite.
This makes sense—if you’ve got a hundred satellites, losing a few doesn’t knock out your whole service. Coverage is about keeping the constellation working, not just replacing every lost satellite.
Typical features:
Big players like SpaceX and Amazon save money this way. The risk spreads out over hundreds of satellites, so premiums per unit drop.
Blanket policies also deal with debris risks better. If space junk hits several satellites at once, you don’t get tangled up in separate deductibles or coverage fights.
Space companies need insurance that actually fits their missions and business plans. Standard aviation or shipping policies just don’t cut it for space.
Space tourism policies mix passenger liability, hull coverage for spacecraft, and business interruption. They even factor in the long training periods for passengers and the high stakes of each flight.
Custom structures cover:
Reusable rocket operators want coverage for more than one flight. Policies now cover refurb costs, delays in turnaround, and gradual wear and tear.
Manufacturers also get insurance for 3D printing in space and on-orbit assembly. These plans protect against material failures in zero gravity and contamination during spacewalks.
The space insurance market is in a weird spot. New tech keeps changing risk profiles, and big claims are making premiums unpredictable. That makes it tough for insurers to decide how much coverage to offer.
Underwriters look at every mission’s details to set rates. Rocket reliability comes first—Falcon 9’s history means lower rates, while new rockets get charged more.
Satellite makers get judged on their track records, too. If you’ve got results to show, you’ll probably pay less than a startup with no flight history.
What insurers check:
Some insurers want tons of pre-launch tests, like thermal vacuums and shake tables. Others are fine with a manufacturer’s word if the satellite’s a proven design.
Usually, underwriting takes two or three months for a new mission. If you rush it, expect to pay 15-25% more, which puts pressure on companies racing to launch.
Space insurance claims hit $826 million in late 2023, mostly from satellites failing after separation. That spike forced insurers to boost premiums right away.
Big losses—think Viasat-3 or Inmarsat 6-F2—make insurers rethink their models. When lots of expensive claims hit at once, it throws off the usual math.
Loss ratios swing wildly. One geostationary satellite failure can cost over $500 million, which is more than some insurers collect in years.
Recent changes include:
Because space insurance works like a spot market, rates jump around with every claim. Buyers sometimes hold off, hoping rates will settle, which just adds more uncertainty for insurers.
New rockets and satellite tech force insurers to guess at risks without much data. When SpaceX’s Falcon Heavy first flew, it got higher premiums until it proved itself.
Small satellite constellations are tricky. Old policies for single, expensive satellites don’t really fit when you’ve got hundreds of cheap ones in orbit.
Tech that affects pricing:
New launch companies like Rocket Lab and Virgin Orbit make insurers cautious. They need special underwriting, not the same as for established rockets.
Space tourism is another headache. Insurers have to look at passenger safety and crew training, plus come up with coverage for civilian flights. It’s a lot to figure out.
Space insurance boils down to three big risks: orbital debris, cyberattacks, and complicated liability. Each one makes coverage more expensive and harder to get.
Space debris is turning into a nightmare for insurers. Over 34,000 tracked objects bigger than 10 centimeters fly around Earth, and millions of smaller bits add to the danger.
Insurers now demand debris risk reports before offering coverage. Operators have to prove they can monitor debris and dodge collisions. The Kessler Syndrome—where debris creates more debris—keeps insurers up at night.
Premiums jump for missions in crowded orbits. Low Earth orbit is the priciest for debris coverage. Insurers usually won’t cover hits from tiny, untracked debris.
Cyberattacks on satellites and ground systems are a growing headache. State-backed hackers try to jam, spoof, or even take over satellite links.
Insurers put in cyber war exclusions now. To get full coverage, operators need layered cybersecurity, encrypted comms, and backup security.
Typical cyber threats:
Insurers want regular security tests. Many policies won’t cover attacks from certain countries. For high-value comm satellites, cyber insurance can cost more than traditional space coverage.
Third-party liability in space is a legal maze. The Outer Space Treaty makes launching countries responsible for damages, but commercial operators face extra risks.
Main worries:
Multiple countries can be involved in one mission, which creates coverage gaps. US companies have to follow FAA rules and international law. Policies usually exclude acts of war, but defining “war” in space isn’t easy.
Liability limits change a lot between launch and in-orbit insurance. Many operators buy extra third-party policies. Cross-waivers help, but enforcing them across borders is tough.
Satellite operators are under pressure to juggle insurance costs against operational risks. Meanwhile, commercial space companies are rewriting the rules for insurance. In the US, companies are rethinking how much coverage they really need.
Satellite operators have to make tough choices at every stage. Launch insurance typically runs 5-10% of the satellite’s value, and in-orbit coverage piles on more costs.
Types of coverage:
Out of nearly 13,000 active satellites, only about 300 have in-orbit insurance. Most operators just aren’t willing to pay sky-high premiums for space risks.
Insurance prices swing by orbit. Low Earth orbit satellites cost $500,000 to $1 million to insure. Geostationary missions can need over $200 million in coverage, since they’re pricier to replace and last longer.
Smaller satellites launched in constellations have changed the game. Operators often skip insurance and just replace failed units, since it’s cheaper than insuring every satellite.
Commercial space companies are changing the insurance game in the US. SpaceX and others often self-insure, meaning they eat the costs themselves instead of buying outside coverage.
US rules only require insurance during launch. After reaching orbit, no law says you need coverage. That lets US companies take on bigger risks themselves.
The commercial boom is pushing the insurance market to keep up. Projects like Amazon’s Kuiper and SpaceX’s Starlink launch hundreds of satellites a year, which creates new insurance headaches.
More private companies now see insurance as optional. The October 2024 loss of Intelsat-33e ($500 million) happened with no in-orbit coverage. These choices show that, for some, self-insurance is just cheaper than paying premiums.
Commercial space is exploding into tourism, manufacturing, and mining. These new fields need insurance products that traditional markets haven’t figured out yet.
Space insurance providers in the United States deal with a tangled web of federal regulations, international treaty obligations, and shifting liability laws. All of these directly shape coverage requirements and pricing.
The Federal Aviation Administration runs commercial space launch licensing through its Office of Commercial Space Transportation. This agency asks operators to prove their financial responsibility with insurance coverage before they get launch permits.
Space companies usually need third-party liability coverage up to $500 million for most missions. If risks go above that, the government steps in with extra coverage through federal indemnification.
The Department of Commerce handles remote sensing satellites and hands out licenses for Earth observation missions. Operators have to meet specific insurance requirements for data security and operational compliance.
A bunch of agencies get involved in space mission approvals, which, honestly, makes things complicated. The National Oceanic and Atmospheric Administration deals with weather satellite operations, while the Federal Communications Commission sorts out spectrum allocation for space communications.
Lately, policymakers have tried to streamline approvals. Mission authorization frameworks now aim to put regulatory authority in the hands of single agencies instead of forcing companies to chase multiple approvals.
The Outer Space Treaty lays out basic liability rules and shapes insurance requirements. Countries have to take responsibility for their nationals’ activities in space, so governments stay involved.
U.S. space insurers always weigh international liability when they cover missions. The Liability Convention makes the launching state responsible for any damage its space objects cause, anywhere on Earth.
International law requires registration of space objects. The Registration Convention tells launching states to register their space objects, which helps establish clear liability chains.
Export control regulations have a big impact on space insurance. International Traffic in Arms Regulations limit technology transfers and can complicate coverage for missions with foreign partners or components.
Federal law says commercial space operators must carry liability insurance. Launch providers have to prove their financial responsibility before they get operating licenses from the government.
Coverage amounts depend on the mission profile and risk. Suborbital flights usually need less coverage than orbital missions with expensive payloads or crew aboard.
Government indemnification programs fill in the gaps above private insurance limits. The Commercial Space Launch Act gives federal backup coverage for qualifying missions.
State-level liability laws add more layers, especially for space tourism. Some states require extra insurance for operations at their commercial spaceports.
Liability waivers are a big deal in space tourism insurance. Participants typically sign detailed releases, but whether those waivers hold up depends on the state and the situation.
New spacecraft tech and orbital capabilities are changing space insurance requirements fast. In-orbit servicing missions need their own coverage models, and Low Earth Orbit operations bring risk profiles that old-school policies just can’t handle well.
In-orbit servicing is shaking up space operations. Spacecraft now dock with satellites to fix things, refuel, or keep missions going longer.
These activities bring up complex liability scenarios. When a servicing vehicle gets close to a client satellite, both face collision risks. Traditional policies focus on individual satellites, but that’s not cutting it when assets interact.
Insurance companies have started building specialized coverage products for servicing missions. These policies cover proximity maneuvers, mechanical failures during docking, and damage to customer satellites.
Insurers now have to assess new kinds of risk. They look at robotic arm accuracy, automated docking, and how well crews are trained. Premiums show these technical wrinkles—they’re usually 15-20% higher than standard satellite insurance.
Servicing missions stretch out satellite lifespans, which changes policy terms. Insurers now offer longer coverage periods and add performance guarantees for maintenance done in space.
Low Earth Orbit missions, those below 2,000 kilometers, have their own insurance headaches. There’s more atmospheric drag and a lot more debris than in higher orbits.
Constellation deployments have taken over LEO. Companies launch hundreds of small satellites at once, so insurance has shifted from single-satellite coverage to policies for whole fleets.
LEO satellites don’t last as long because of drag. Most run 3-7 years before they’re toast. Insurance terms now reflect these short timelines, with faster depreciation.
Reusable rockets like SpaceX’s Falcon 9 have slashed LEO launch costs. Operators can take on more risk and sometimes go with less insurance.
LEO’s crowded, so collision risks are up. Insurers use debris tracking data and conjunction analysis to set premiums. If a satellite can dodge debris with its own propulsion, it usually gets a better rate.
The U.S. space insurance market is pretty concentrated. A handful of global insurers have started adapting their risk models for America’s fast-growing commercial space sector. These big players go head-to-head with specialized coverage and strategic partnerships with U.S. launch providers.
AXA XL leads the American space insurance scene by partnering directly with major U.S. launch companies and satellite operators. They’ve got underwriting teams in New York and California focused on the commercial space market.
Swiss Re brings reinsurance muscle for American space risks, backing the primary insurers who write policies for U.S. satellite launches. They provide key capital for high-value missions over $500 million.
Munich Re, through its U.S. offices, offers broad packages that combine launch insurance with in-orbit protection. They’re especially interested in commercial satellite constellations, including mega-projects launched from the U.S.
Allianz Global Corporate & Specialty has a strong U.S. presence, insuring government contractors and commercial space companies. They offer specialized liability coverage for launches at American spaceports.
American space insurers are getting more flexible with coverage terms. They adapt to rapid launch schedules and the short lifespans of new satellites. Marsh Inc., for example, brokers custom policies that match the unique needs of U.S. space operators.
Competition is heating up for small satellite insurance. Providers are streamlining underwriting for constellation launches, especially from California and Florida.
Risk models now include real-time space weather and debris tracking from the U.S. Space Force. Insurers use this data to price policies more accurately for American satellite operators.
Premiums reflect the maturing U.S. launch scene. Established providers like SpaceX usually get lower insurance rates, thanks to their reliability.
Space insurance protects valuable assets in orbit with specialized coverage. Picking the right broker matters, and federal regulations are strict. The industry offers a surprising range of careers, and pricing always depends on mission complexity and past data.
Commercial space launches usually need four main types of insurance. Pre-launch insurance covers satellites and spacecraft during manufacturing, testing, and their trip to the launch site.
Launch insurance kicks in during the riskiest phase. It starts at liftoff and lasts until the payload reaches its orbit.
In-orbit insurance takes over once the satellite starts working. This policy covers things like space debris collisions, technical failures, and power issues throughout the satellite’s life.
Third-party liability insurance protects against damage to other spacecraft or ground facilities. Federal law makes launch companies carry this type before getting a license.
Property insurance covers ground equipment—think launch pads and control centers. Some companies also buy business interruption insurance to cover lost income from delays or failures.
Space insurance brokers play matchmaker, connecting clients with insurers who actually understand space risks. They look at each mission’s quirks and suggest the right coverage levels.
Brokers negotiate policy terms and premiums, using their industry contacts to find good deals for complicated missions.
If something goes wrong, the broker manages claims. They work with both sides to resolve disputes and try to speed up payments after failures.
Risk assessment services help clients cut insurance costs. Brokers review launch procedures, spacecraft design, and safety plans to spot ways to lower premiums.
Many brokers know the ins and outs of different types of missions, from satellite deployments to space tourism and cargo flights.
Underwriters size up space mission risks and set premiums. They need solid technical chops in rockets, satellites, and space operations.
Claims adjusters dig into mission failures and figure out insurance payouts. They usually have engineering backgrounds and get how spacecraft work.
Brokers sell space insurance and advise clients on coverage. They build relationships with space companies and help manage financial risks.
Risk analysts crunch mission data to predict failure rates. They use stats and engineering know-how to help insurers price policies.
Actuaries build math models for space insurance pricing. They look at launch history and failure patterns to set premiums.
Legal specialists handle contracts and regulatory issues. They make sure policies meet federal requirements and sort out disputes.
Mission complexity is a big driver. Simple satellite launches cost less to insure than deep space or human missions.
The rocket’s track record really matters. Reliable vehicles like Falcon 9 usually get lower premiums than new or unproven ones.
Payload value sets the coverage amount. Pricier satellites need more insurance and cost more to protect.
Launch site conditions play a role. Well-run spaceports with good safety records often mean lower insurance costs.
Insurers look at past failure rates for similar missions. They use that data to predict problems.
The spacecraft builder’s reputation also counts. Companies known for quality tend to score better rates.
When a mission fails, launch companies have to notify their insurers right away, usually within a set time frame.
Insurance investigators dig into the evidence. They check telemetry, launch videos, and technical reports to figure out what happened.
Independent experts often do the failure analysis. Insurers bring in aerospace engineers and specialists to verify the cause.
Settlement talks decide the final payout. Insurers look at the loss value, policy details, and any contributing issues.
Payments can take months, especially for complex missions. Insurers want to be thorough before they approve big claims.
Some policies offer partial loss coverage. If a satellite makes it to orbit but doesn’t work right, it might still get a reduced payout.
The Federal Aviation Administration keeps an eye on commercial space insurance requirements. If a launch company wants a license, they have to show proof of enough liability coverage.
Insurance needs shift depending on what kind of mission it is and how risky things look. The FAA sets a minimum, but honestly, most companies decide to buy extra coverage.
State insurance commissioners actually regulate the insurance companies themselves. Space insurers have to stick to the usual state insurance laws wherever they’re based.
International treaties can shape space insurance policies too. Companies juggling global satellite operations need to think about liability rules in several countries.
The Commercial Space Launch Act lays down the main insurance framework. Under this federal law, every commercial launch needs third-party liability coverage.
Lately, regulators have tweaked the rules to keep up with new space activities. Agencies are still figuring out how to handle space tourism, big satellite constellations, and whatever else is coming next.
