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Inspace

Our specialist inspace division provides risk consultancy insurance broking and risk management services to the global space and satellite industry.

Why Willis Towers Watson Inspace?

Founded as the first-ever space insurance broker in 1977, the team is comprised of experienced professionals across nine locations world-wide: Almaty, Beijing, Ipswich, Kuala Lumpur, London, Miami, Paris, Singapore and Washington D.C.

 

The Global Inspace team prides itself on developing, marketing and implementing risk strategies that complement the innovative space industry of today.

We work alongside all industry participants - satellite operators, manufacturers, financiers and launch services agencies to address all risks offering customised solutions to support business objectives.

Space industry risk Global Inspace solution
Contract negotiation and signing
  • Identification of exposures in contract terms
  • Risk management solutions in line with overall business strategy
  • Dovetail policy language to relevant procurement contracts
  • Consulting during negotiation of contract terms
Manufacturing and testing
  • Property insurance
  • Satellite stock throughput insurance
  • Satellite ground testing and pre-transit insurance
  • Hot fire and static fire test insurance
Transit
  • Transit insurance (to testing, contractor, and launch sites)
Launch site
  • Pre-launch insurance (AIT and launch pad coverage up until intentional ignition/launch)
Launch vehicle flight/ separation
  • Launch vehicle flight insurance
  • Launch liability insurance
In-orbit testing/In-orbit life
  • Launch + IOT
  • Launch + 1 year in-orbit
  • Launch + long-term in-orbit
  • Stand alone post-separation insurance and annual in-orbit insurance renewals
  • In-orbit liability insurance
Performance incentives Milestone payments and performance incentives in customer contracts
Other services/insurances
  • Strategic partnership advisory
  • Cyber insurance
  • ECA/investor advisory
  • Credit enhancement
  • M&A due diligence
  • Coverage consolidation
  • Political risk insurance

Managing risk in a changing industry

Our experienced team understands the importance of the risk management process in a sector where trail-blazing technology can be commonplace. By efficiently producing cost-effective risk-averse solutions we are embedded within the growing industry trends of today, such as:

  • Constellations
  • Hosted payloads
  • Earth observation
  • Broadband satellites
  • Nano/small satellites
  • Human spaceflight/Space tourism
  • In-orbit servicing
  • Re-useable launch vehicles
  • Real-time video
  • ISS-based hardware/habitats
  • In-orbit debris
  • 3D print manufacturing

Claims expertise

Claims within the space insurance industry tend to be large and complex and our expertise in claims settlement can ensure that they are paid in a timely, efficient, and complete manner.

The insight gained by building unique policy wordings and loss formulas tailored to our individual client’s needs enables us to stress test how a policy will respond in the event a claim occurs. 

Zero
of our Inspace claims have gone to arbitration


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