Insurers have contributed funds to a £120,000 research project to develop an early warning system for detecting satellite-damaging space particles.
Marsh Space Projects, the Benfield group and a subsidiary of Brit Insurance are supporting the study by the University of London's space laboratory, which hopes to produce a black box to detect potentially devastating solar radiation in the form of ‘killer electrons'.
Project leader Dr Andrew Coates said: “Insurers are increasingly worried about the amount of money they have been losing from satellites that have developed problems in orbit.”
Space insurance claims grew to £1.2bn against premiums of only £566m in 1998.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
