Ispace secures first insurance deal for private lunar lander
Capitalism in space: The Japanese startup Ispace has now obtained the first insurance plan ever for a private lunar lander.
The startup has signed a Memorandum of Understanding with Mitsui Sumitomo Insurance (MSI), a Tokyo-based firm that started working with Ispace in 2019, to insure its first attempt to send a lander to the moon later this year. The agreement outlines intentions to finalize terms for the insurance in the months leading up to Ispace’s Mission 1 (M1), which is currently slated to fly on a Falcon 9 rocket no earlier than the fourth quarter of 2022.
According to Ispace, the insurance would cover any damage the lander takes between separating from the rocket in a trans-lunar orbit (TLO) and touching down on the moon. As well as covering a failed landing, the insurance would guard against issues stemming from radiation exposure as the lander travels through the Van Allen belts to its destination.
The insurance does not cover the payloads Ispace’s lander will carry, including a rover from the United Arab Emirates.
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Capitalism in space: The Japanese startup Ispace has now obtained the first insurance plan ever for a private lunar lander.
The startup has signed a Memorandum of Understanding with Mitsui Sumitomo Insurance (MSI), a Tokyo-based firm that started working with Ispace in 2019, to insure its first attempt to send a lander to the moon later this year. The agreement outlines intentions to finalize terms for the insurance in the months leading up to Ispace’s Mission 1 (M1), which is currently slated to fly on a Falcon 9 rocket no earlier than the fourth quarter of 2022.
According to Ispace, the insurance would cover any damage the lander takes between separating from the rocket in a trans-lunar orbit (TLO) and touching down on the moon. As well as covering a failed landing, the insurance would guard against issues stemming from radiation exposure as the lander travels through the Van Allen belts to its destination.
The insurance does not cover the payloads Ispace’s lander will carry, including a rover from the United Arab Emirates.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
OT. I am interested to know what the gas pipeline that SpaceX wants to build that will bring gas to Boca will be used for. Is it for launch fuel, but also to desalinate water needed to cool the launch tower? If SpaceX has to do all of its FH launches from KSC, will that facility be able to be supplied with the fresh water and fuel needed to support frequent launches of Starship?
My son-in-law is an insurance adjuster… He would like to volunteer to be the MSI insurance claim adjuster in case there’s “an accident” to personally inspect the damage to make sure it’s not an unreasonable or improper claim.
If there’s a failure on landing, would he have to go inspect the damage?