International Space Brokers (ISB), part of Aon Risk Solutions, is the world’s only insurance broker dedicated exclusively to the space industry. We harness our insurance and space industry expertise to make complex situations simple, developing innovative responses that bring value to our clients.
The ISB team brings together experts in space engineering, contract negotiation, finance, risk management and insurance. In less than two decades we have become one of the most respected names in space insurance, with a client list that includes eight of the world’s top 20 satellite companies. We currently place over 35% of the world’s space insurance premium.
As satellites become more complex, having the technical skills to understand the technical aspects of a project is a critical part of translating a customer’s requirements into effectively structured and competitively priced protection.
The ISB team comprises both insurance experts and rocket scientists. This means we offer unrivalled breadth and depth of experience in managing and mitigating space risks.
We are in the insurance markets working on placements all day every day, which gives us the expertise to generate savings because we know the appetite of specific underwriters for particular types of risk.
Just as important, we understand our customers’ concerns and recognise that these need to be managed in relation to a project’s insurance needs. We seek to ensure that a risk insurance policy is placed and issued far enough in advance that it does not distract management attention in the critical build up to a launch.
Whether dealing with launch vehicle failure or more complex claims which bring into play issues of loss quantification, quantum, failure modes, time to failure, salvage or subrogation rights, in our experience the most effective claims collection strategy is one which is simple, measured, flexible and adaptable.
As every member of the ISB team deals with all aspects of the risk from initial programme design, placement and policy wording to claims handling, our customers can be confident that the person who is in charge of the account is also in charge of collecting insurance payments, ensuring seamless service.
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