New Underwriting Agency Assure Space to Cover Satellite Risks

Assure Space, LLC, a new space insurance agency for satellite risks, has partnered with Auster Capital Partners (ACP) and Space Florida for the provision of launch and in-orbit insurance to satellite operators worldwide. Assure Space has agreements with participating insurers that grant it authority to act as their intermediary and perform a range of responsibilities on their behalf. These include identifying and evaluating world-wide space insurance opportunities and underwriting insurance commitments.

The new Assure Space team includes Richard Parker, former space underwriter and technical director at AXA Space, who will lead Assure Space. Parker has over 25 years of experience in the space industry and has also held senior positions with the European satellite manufacturer EADS Astrium and satellite operator Intelsat.

ACP is a New York area based private equity firm focused on the telecom and technology sector.

Space Florida is the spaceport authority and aerospace economic development agency of the State of Florida, created to strengthen Florida’s position as the global leader in space commerce. Space Florida serves as the single point of contact for all space-related functions of the State of Florida, and serves the civil, military and commercial sectors.

Assure Space is an underwriting agency which provides space insurance products. It can provide insurance coverage for the launch of all types of satellites and their continuing in-orbit operation. Assure Space is also developing new insurance products to facilitate such evolving activities as the assembly and maintenance of orbital facilities, transportation of cargo and crew to and from such facilities, spaceport operations, space tourism, and other space-related activities.

Topics Florida Underwriting