Home Business “Satellite Communications” Plans to Insure Nine Satellites “Express”

“Satellite Communications” Plans to Insure Nine Satellites “Express”

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FSUE “Satellite Communications” wants to insure nine satellites “Express” for a huge sum, as the agency RIA Novosti informs.

The amount to be spent on insurance by “Satellite Communications” is RUB 41.3 billion.

As it turned out, the company actually holds an open tender for an insurer of vehicles operating in orbit. The list of “to-be-insured” satellites includes: “Express-AM33”, “Express-AM44”, “Express-AT1”, “Express-AT2”, “Express-AM5”, “Express-AM6”, “Express AM7”, “Express AM8”, and “Express AMU1”.

There was also announced the contract ceiling amount of RUB 578 million.

The insurer after signing the contract, will assume full responsibility for damages or failures of these vehicles.

The insurance contract is intended to conclude exactly for one year, i.e from 31.12.2016 through 31.12.2017.

According to the vice-president of “Ingosstrakh” Alexander Podchufarov, the market is close to a critical situation. He also pointed out that the Russian space industry resulted in a loss of USD 662 million, and among 100% insured Russian satellites there are only several “Express” models.

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