Insurance Management students Christopher McKeon, Ann Satovich, McKay Simmons, Christopher O’Connor, and Brad Barger recently co-authored a white paper that focuses on the current marketplace for space insurance. The article, “Boldly Insure Where No One Has Gone,” was written in Program Director Teresa Chan’s class, Emerging Risks and Insurance Topics, then submitted and accepted for publication in Insurance Thought Leadership.
The article calls on the insurance industry to “prepare now for the exponential growth” in the space insurance market. Commercial advancements in space tourism and development, led by entrepreneurial figures like Jeff Bezos, Richard Branson and Elon Musk, have prompted the need for new insurance policies and procedures. The article details the questions and opportunities emerging from these developments and encourages insurance carriers to lead the way in the “celestial insurance market.”
“In the last decade, the space sector has seen over 50% growth in commercial space initiatives. The commercial portion of the space ecosystem saw $200 billion of investment in 1,500 companies.”
McKay Simmons has over a decade of experience in the insurance industry, most recently focused in the cyber and aviation liability sectors. Christopher O’Connor is the head of financial institutions cyber insurance for AIG. Christopher J. McKeon is senior vice president and head of commercial casualty and risk management for Everest Insurance. Brad Barger is a vice president at USI insurance services, advising clients and prospects on capital-efficient risk management and insurance solutions. Ann Satovich has extensive experience in commercial property and casualty insurance and is currently an insurance technology administrator for a bank-owned insurance agency.
Read the full white paper, “Boldly Insure Where No One Has Gone” in Insurance Thought Leadership.