{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"What\u2019s New in the Insurance Space Industry? With Richard Parker","description":"Richard Parker is the Divisional President and Co-Founder of Assure Space, an underwriting agency that provides insurance for all aspects of the space industry including traditional launch and in-orbit launch vehicles and satellites. He\u2019s been in the space industry for the last 35 years and shares what\u2019s happening in this exciting industry in this week\u2019s episode!   Key Takeaways How does someone get into space insurance? Richard shares his extensive background and what he\u2019s up to today with Assure Space. In this context, space insurance is covering the asset in space and how it got there. Most of Richard\u2019s business is in the commercial sector and not in the public\/government sector. When would an insurance claim be fulfilled in this industry? In a good year, a satellite company might only sell 4\u20125 spacecraft in a year. Quality control is incredibly thorough in this industry. There can\u2019t be room for error, which is good for the space insurance industry because it means there is a very small failure rate. What questions do you ask before insuring a spacecraft? Where is this industry headed in the next five years? Richard shares his thoughts on how the insurance industry can be more exciting for young talent. So many people do not know space insurance even exists. Education and publicity are key. What does Richard wish he\u2019d known sooner about his industry?   Keep Getting Better Assure-space.com   Quotes   \u201cWhen we talk about space insurance, we\u2019re really talking about first-party insurance.\u201d   \u201cWhen I think about space insurance, I think we\u2019re really lucky to be covering satellites and rockets. The satellite manufacturer industry is very competitive.\u201d   \u201cThis is exciting. It\u2019s never stopped being exciting. We were the first insurer to provide hardware on a space station. It\u2019s never ending, the space station insurance business.\u201d ","author_name":"IN-the-Know","author_url":"http:\/\/cpcusociety.libsyn.com\/website","html":"