3 ms·
Assuming that the insurance company actually pays out, this seems like a win for both SpaceX and OrbComm. SpaceX got a paying commercial customer, and had an op
by jamesmcn 14y ago
Assuming that the insurance company actually pays out, this seems like a win for both SpaceX and OrbComm. SpaceX got a paying commercial customer, and had an opportunity to test out yet another part of the Falcon stack. OrbComm got a bit of testing time on their new communication platform at less than the cost of a full launch. If the insurance company is structured properly, this is a loss for them, but will average out over time.
Compare with the age of sail, where a mission was considered successful if one the ships actually returned. Even with 75% of the crew dead and 25% toothless and malnourished from scurvy and other ailments.
- jameshart 14y agoWell yes - it's frankly impressive enough that it's possible to get insurance to cover putting your satellite on one of SpaceX's rockets. Speaks well to the future of private space travel that there are institutions willing to take that bet, at a price commercial customers of SpaceX are evidently willing to pay.
- pilom 14y agoLast I looked, insurance premiums on spaceflight were on the order of 20-25% of insured value of the payload. So if it were a $10 million payout Orbcomm probably paid out 2 million in insurance pre launch.
- lbcadden3 14y agoYou can get insurance for anything if you are willing to pay the premium.