Allianz Global Corporate & Specialty Space Insurance

Transcription

1 Allianz Global Corporate & Specialty Space Insurance Insurance solutions for the space industry

2 SpaceCo, part of Allianz Global Corporate & Specialty, is dedicated to providing insurance and risk management solutions to the space industry. Our main activities cover the following: Top 3 major satellite operators (in-orbit fleets larger than 20 satellites) Top 5 satellite operators with 5 to 20 satellites Other key geostationary operators (totaling close to 50 satellites) Overall more than 180 satellites covered in orbit, accounting for a total value-at-risk of about EUR 16 billion All main and worldwide launch services companies, including top 8 heavy-lift launch vehicles Lead share on 20 launches every year All 6 main large commercial GEO platform manufacturers Policy covers for all mission phases and needs Global presence: more than 130 clients worldwide

3 Allianz Global Corporate & Specialty Addressing the challenges of a high tech industry SpaceCo, a subsidiary of Allianz Global Corporate & Specialty, is a worldwide leader in the Space insurance field. We provide end-to-end, customized insurance to launch agencies, satellite operators and manufacturers around the world. With one of the most experienced and respected networks of specialized underwriters, claims professionals and risk consultants in the business, we are ideally positioned to deliver the solutions a global economy demands. Changing environments and emerging risks In space, the hazards are numerous from radiation effects, space debris and meteoroid impacts to upper atmospheric drag and electrostatic charging. The most insignificant anomalies can turn into catastrophic failures. Innovation, expertise, adaptability and reliability are critical to success. In addition to a harsh natural environment, fierce competition and ever-changing technology continually alter the competitive space industry landscape. Meeting the evolving and complex needs of the commercial space industry requires a partner with true global capabilities, highly experienced Space insurance specialists and financial strength and stability. We are that partner. Top-notch expertise Our team is comprised of highly qualified experts with specialized skills ranging from technical risk assessment and system engineering to underwriting, policy wording, program structuring, financing, risk management and claims handling. We know the business and combine an in-depth knowledge of the space environment with a keen awareness of the risk implied at all stages. SpaceCo plays an active role in the industry and is constantly striving to raise risk awareness, share best practices, find new ways to address emerging issues and provide a visionary approach to long-term challenges. We keep a step ahead of the challenges facing our clients from space debris and space tourism to intricate third-party liability patterns and future technological developments. The goal is to deliver innovative, solution-oriented products and services that provide clients with a sound, optimized risk management strategy. 1

4 2 A strong global presence As part of Allianz Global Corporate & Specialty, we combine an expert team focused on a specialty market with one of the largest capacities in the industry. Our market-leading capacity enables us to handle the largest of risks. A global reach in more than 150 countries provides access to experienced professionals who know the territory, understand the culture, speak the local language and have a firm grasp of regional regulations. Creative solutions and a wide range of covers Clients and brokers benefit from a level of insight and know-how that provides a competitive edge. Supported by outstanding risk modeling capabilities based on comprehensive internal databases, we approach each risk with a wealth of knowledge that ensures they are managed effectively not only in the short term, but from a global, long-term perspective. SpaceCo provides comprehensive insurance products and services for all aspects of space missions. We have experience in working with clients on a wide range of projects from low earth orbit observation and geostationary commercial fleets to imagery, navigation, constellations and remote sensing satellites. Our products include: Assembly, Integration and Test (AIT) coverage Pre-Launch Launch and Commissioning In-Orbit Life In-Orbit Incentives Service Interruption/Loss of Revenue Third Party Liability Captive Risk Management As part of a global Aerospace entity, we have the resources and capabilities to ensure clients activities are covered from ground to space from both a property and liability perspective. Working in concert with Engineering, Marine and other related Allianz groups across the globe we can provide a seamless insurance and risk control program.

5 Allianz Global Corporate & Specialty A focus on sustainability SpaceCo s intent is on forging long-term partnerships with our clients partnerships that are built on credibility, trust, communication and a commitment to protecting clients assets. From the macro analysis of disaster scenarios and other catastrophic events to an in-depth understanding of each risk s dispersion and uncertainty, we are dedicated to ensuring financial solvency whatever the hazards. Proactive risk control Our multi-disciplined team of experienced risk consultants and engineers* works with clients to help improve safety and reduce claims. Our expertise and relevant real-world experience provide clients with the resources necessary for managing risk in the long term. Industry-leading claim services Fast service and efficient claims handling are essential to help our clients resume their operations and manage their day-to-day business as quickly as possible. Clients should expect nothing less than a first-class response from us. Proven systems and procedures ensure consistent quality and transparency throughout the claim process. We maintain one of the most knowledgeable claims teams in the industry. Our global claims network keeps service close to the customer and ensures we have the resources to respond quickly anywhere in the world. Our claims professionals, adjusters and surveyors have many years of hands-on expertise with Space claims. They are committed to delivering prompt and consistently fair claims services. Allianz Global Corporate & Specialty consistently achieves strong ratings for financial stability: AA ( Very Strong ) from Standard & Poor s and A+ ( Superior ) from A.M. Best. *Services provided by separate Allianz Service Entity 3

6 The strength and security of a leader Allianz Global Corporate & Specialty (AGCS) is the Allianz Group s dedicated brand for corporate and specialty insurance customers. The company provides insurance and risk management consultancy across the whole spectrum of marine, aviation and corporate business, including Energy, Engineering, Financial Lines (incl. D&O), Liability and Property insurance, including International Insurance Programs. 4 Worldwide, Allianz Global Corporate & Specialty operates in over 150 countries and territories through the Allianz Group network and through other network partners. It employs more than 3,400 people worldwide and provides insurance solutions to more than half of the Fortune Global 500 companies. Allianz Global Corporate & Specialty has a Financial Strength Rating of AA ( Very Strong ) from Standard & Poor s and an A+ ( Superior ) from A.M. Best. Allianz Global Corporate & Specialty is part of Allianz Group, one of the largest and most renowned insurance and financial services providers in the world. Allianz was ranked among the leaders in the Dow Jones Sustainability Index. For further details, see the Allianz Global Corporate & Specialty website

7 Allianz Global Corporate & Specialty at a glance Full range of products and services across the whole spectrum of marine, aviation and corporate business, including Energy, Engineering, Financial Lines (incl. D&O), Liability and Property insurance, including International Insurance Programs Provides insurance for more than half of the Fortune Global 500 companies Global reach represented by a global network in over 150 countries consisting of Allianz companies in more than 70 countries plus carefully selected network partners Market-leading capacity to handle the largest risks Local decision making facilitates responsiveness Consistently strong ratings: AA ( Very Strong ) from Standard & Poor s, A+ ( Superior ) from A.M. Best Single point of access dedicated client teams and Key Account Managers Diversified risk portfolio and capital efficiency offer stability and long-term consistency

8 SpaceCo* Tour Opus esplanade du Général de Gaulle La Défense Paris La Défense cedex France Tel Copyright 2014 Allianz Global Corporate & Specialty SE. All rights reserved. The material contained in this publication is designed to provide general information only. Whilst every effort has been made to ensure that the information provided is accurate, this information is provided without any representation or warranty of any kind about its accuracy and Allianz Global Corporate & Specialty SE cannot be held responsible for any mistakes or omissions. All descriptions of coverage are subject to the terms, conditions and exclusions of the individual policy. Allianz Global Corporate & Specialty SE Fritz-Schaeffer-Strasse 9, Munich, Germany Commercial Register: Munich, HRB *SPACECO ORIAS French registration for Insurance intermediaries Registration Number