{
  "id": 7933433,
  "title": "India wants to insure its space boom. Insurers want a space boom first",
  "url": "https://urgent.news/2026/09/17/india-wants-to-insure-its-space-boom-insurers-want-a-space-boom-first",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-17T02:30:29.000Z",
  "source": {
    "name": "The Ken",
    "slug": "the-ken",
    "url": "https://the-ken.com/story/india-wants-to-insure-its-space-boom-insurers-want-a-space-boom-first/"
  },
  "original_language": "en",
  "account": "India's burgeoning space industry faces challenges in securing affordable insurance coverage for its satellite launches. A recent satellite launch by a startup named Galaxeye encountered technical issues, including incompatible rocket parts and undisclosed dimensions, leading to a costly postponement. Such problems are not uncommon for India's nascent space startups, which often encounter unexpected hardware issues during development.\n\nHowever, even more concerning for insurers is the cost of insuring these satellites. When Galaxeye approached insurance brokers, they were quoted premiums equivalent to 12-15% of the satellite's value, amounting to Rs 4.2–5.25 crore for a Rs 35 crore spacecraft. Insurance executives describe this as \"highly capital-intensive and highly risky,\" given the potential for catastrophic losses on a single mission. With limited flight history for newly developed rockets and satellites, insurers struggle to accurately price these risks, resulting in higher premiums.\n\nThis situation creates a Catch-22 for India's space startups. While they require insurance to mitigate risks, the insurance market is still maturing to adequately price and cover these emerging ventures. Major Indian insurers like New India Assurance, Tata AIG, GIC Re, and London-based Lloyd's have recognized the potential in this market but are hesitant due to the inherent risks. As a result, India's space startups find themselves on one side of a developing market, while insurers remain cautious on the other.",
  "summary": "The post India wants to insure its space boom. Insurers want a space boom first appeared first on The Ken .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}