Aspen Claims Service

Insurance Claim For Failed Measat-3 Satellite In Dispute

 Monday, August 8, 2022

 SpaceNews

An insurance claim for a Malaysian satellite that ran out of fuel prematurely remains unsettled more than a year after the incident.

Some underwriters are disputing Malaysian satellite operator Measat’s $45 million claim to recover losses from Measat-3, an insurance source said, while others have agreed to pay out.

Although many space insurance claims are settled within months -- after a straightforward rocket explosion, for instance -- it can take years following an incident in orbit when the cause of failure is initially unclear.

‘We were sitting there saying, hey, is this legit … how do you just run out of gas?’, an underwriter said.

But while that underwriter said Measat and Boeing, Measat-3’s manufacturer, were ultimately able to provide analysis showing a valid insurance claim, other underwriters remain unconvinced.
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