THE DEVELOPMENT OF SPACE INSURANCE IN RUSSIA

Abstract

Space activities, which include launching and operating satellites, as well as sending humans into space, involve high degrees of complexity and risk. Large investments, strict compliance with regulatory requirements and a high degree of technical complexity make this industry particularly vulnerable to various types of threats and unforeseen situations. The process of space exploration is characterized by the presence of an increased risk, which consists in the potential for significant damage to the lives and health of people (astronauts, space infrastructure maintenance personnel and third parties), the economic interests of the State, participants in space activities and third parties, as well as the environment. Effective risk management is a prerequisite for the successful implementation of government and commercial space projects. Insurance is a key financial instrument for managing risks in space activities.

The purpose of the study is to gain a deep understanding of the essence and features of this segment of the insurance market, as well as the practice of its implementation.