This article provides
a concise overview of space insurance, with a focus on satellite first-party
property coverage. It touches upon the three main phases of the lifecycle of a
satellite (pre-launch, launch, and in-orbit) and examines the core structure
and substance of a typical space insurance policy. This article also considers
the types of losses that a satellite may suffer in outer space and offers a
holistic analysis of how space insurance claims are handled. While space law
often tends to attract academic analysis, this article seeks to clarify the
practical aspects of space insurance, particularly for those less familiar with
this specialised field.