[Satellite TODAY 04-08-10] Yahsat has secured a Shariah compliant space insurance policy with Methaq Takaful Insurance Co. and ElseCo based in the United Arab Emirates, Yahsat announced April 7.
    The insurance solution was developed to cover the launch and in-orbit operations of the Yahsat-1A and Yahsat-1B satellites, scheduled to be launched in 2011.
    Willis Inspace, a specialized space division of the London-based insurance broker Willis Ltd., designed the insurance coverage.
    “Insurance protection is an integral part of our satellite program. With firm roots in the region, we are proud to be the first organization to use a new Shariah-compliant insurance solution for space programs,” Jassem Al Zaabi, CEO of Yahsat said in a statement.

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