SatelliteFinance understands that US-based satellite operator EchoStar is seeking a six satellite launch-plus-one package placement.
Marsh is believed to be EchoStar’s broker on the placement.
The insurance would cover two satellites that Space…
SatelliteFinance understands that US-based satellite operator EchoStar is seeking a six satellite launch-plus-one package placement.
Marsh is believed to be EchoStar’s broker on the placement.
The insurance would cover two satellites that Space Systems Loral is contracted to build, two spacecraft that Loral has an ATP (authority to proceed) with, and notably, two that have yet to be ordered.
It is thought that for the latter, EchoStar is currently deciding between Loral and Airbus DS of Europe.
As one insurer noted, “it is unusual for an operator to seek insurance before it has selected the manufacturer, even in a large package deal”. He suggested that a decision on who will build the final two satellites is therefore likely imminent.
EchoStar and its sister company Dish have traditionally not been particularly active insurers, preferring to take on the risk rather than renew in-orbit insurance.
