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Special Episode: Ask the Expert: All About Space Insurance with Richard Parker
Richard Parker is the Chairman at Applied Underwriters Aerospace, LLC, where he runs the space team. He recently joined Chris Hampshire for a special episode of In the Know: Ask the Expert, which features their conversation about the structure of space insurance, recent explosions, the typical claims process, and a host of other questions from a live audience.   Key Takeaways ● The structure of space insurance. ● Recent changes in space insurance underwriting. ● Challenges of insuring smaller spacecraft. ● Geosynchronous Earth Orbit characteristics. ● What type of space-specific coverages would Jeff Bezos have? ● Are space insurance products carrier-direct? ● How can an industry professional get hired into space insurance? ● Do captive insurance companies work with space insurance? ● How can space insurance be priced profitably and competitively? ● Is the space insurance economy a growing market? ● Was the recent explosion accurately depicted in the media? ● What does the claims process look like? ● Are there separate coverages for workers' comp and third-party liabilities? ● Will space tourism create new opportunities for space insurance?   In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.   To learn more about the CPCU Society, its membership, and educational offerings, tools, and programs, please visit CPCUSociety.org.   Follow the CPCU Society on social media: X (Twitter): @CPCUSociety Facebook: @CPCUSociety LinkedIn: @The Institutes CPCU Society Instagram: @the_cpcu_society   Quotes ● “Space insurance is unique because it doesn’t have a lot of loss history.” ● “Space insurance offers a worldwide opportunity with offerings to the entire commercial space industry.” ● “The space insurance market is efficient and good for clients, but it can be extremely difficult to price.” ● “It’s absolutely fascinating to work on a space insurance claim.” ● “Any growth in space is an opportunity for space insurance.”
IN-the-Know
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