Insurance of space risks

The main services:

• arrangement of insurance and reinsurance coverage;
• selection of insurance companies for the tender purposes, in accordance with the clients’ instructions or based on the broker experience;
• client consulting on insurance and reinsurance documentation aspects;
• interaction with reinsurance markets for obtaining the best risk reinsurance conditions;
• insurance terms and conditions negation with underwriters, leasing companies, banks, manufacturers or purchasers of space equipment, services customers;
• representation and protection of the client interests on the aspects connected with the conclusion and execution of the insurance and reinsurance policies including claims settlement and insurance indemnities;
• provision of preliminary indications and final quotations of risks;
• organization of insurance examination (technical examination, survey) of the object to be insured;
• organization of insurance examination (technical examination, survey) when the loss has occurred.

The company’s experts are ready to offer a complex organization of insurance coverage for a project with detailed analysis of contracts between contracting parties, sharing of parties responsibilities for the purpose of minimization of insurance and reinsurance expenses, decreasing of client’s risks. Malakut Constellation Insurance Brokers CJSC offers services in claims settlement even in situations when process of insurance or reinsurance of risks has been organized without participation of our company or with involvement of another broker. 

Space Insurance:

Malakut Constellation Insurance Brokers LLC renders to the clients ninsurance services at all stages of project progress:

• development and design of space equipment;
• manufacturing and testing including firing tests;
• transportation and prelaunch preparation of space equipment;
• launch of the spacecraft into intended orbital position;
• commissioning phase of the spacecraft in orbit;
• spacecraft orbital operation;
• end of operation and deorbit of the spacecraft.

Brokers LLC has gained experience in claim settlements at all phases of a space project:

• manufacturing: damage and defects detected during performance tests;
• tests: destruction and damage occurred during a space equipment firing tests;
• spacecraft launch: total loss, launch to non-nominal orbit;
• orbital operation: total loss and failure of the spacecraft systems;
• the total amount of claims settled in all types of insurance per Malakut Constellation Insurance Brokers LLC share is $140 000 000.

In 2005 Malakut held the first international space insurance conference in Russia – the Space Club. The main idea of the Space Club is a discussion of pressing issues of space insurance by the market players.

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