What Happened
Orbital Computing Raises New Questions For Insurers
As companies like SpaceX and Blue Origin plan to launch data centers into orbit, insurers are seeing a new frontier for growth, but they face significant challenges in pricing the risk. With annual premiums for space coverage currently totaling $500-750 million, insurers are eager to tap into the potential of orbital computing, but they must navigate questions of regulation, insurance capacity, and technical uncertainty. According to Patton Kline, Marsh U.S. aviation and space practice leader, insurers that don’t look to space as the next frontier for insurance underwriting risk missing out on a big growth story, as reported by CNBC.