[Satellite TODAY 05-10-10] Insurance company Aon is launching a new policy for space investors, which aims to enhance satellite operator’s initial credit rating by reducing the financial risk of commercial launches, the company announced May 7.
    Under the new policy, claims will be triggered by any damage to or total loss of the satellite. The policy will react to fluctuations in bond yield and the share price before and after the launch or orbit, paying an amount that recoups the loss of publicly or privately traded securities of the satellite operating company in which the insured has invested. In the event of a loss paid, the insurers will receive the securities as salvage.
    “As developments continue to increase for areas such as delivering broadband as well as pollution and disaster monitoring, lack of liquidity in the financial markets has delayed industry growth. … Aon used its leverage with the insurance markets to introduce new capital, supporting both investors and operators by protecting their investments,” Clive Smith, space business unit leader for Aon’s International Space Brokers, said in a statement.