What the Research Shows—and What Insurers Ignore
The IJETRM paper points to an exploding commercial space economy—valued at over $423 billion in 2019 and expected to surge past $700 million for insurance premium markets by 2028. Small satellites, mega-constellations like Starlink, and space tourism all bring new liabilities. Insurers are responding with technical products covering payload loss, in-orbit malfunction, or suborbital tourist injury. Yet none of these address systemic risks from a space-borne catastrophe that could shatter satellites, disrupt communications, or devastate urban areas if debris reaches Earth.
The study stresses best practices: comprehensive risk assessments, collaboration with aerospace experts, ongoing data analytics, and flexible coverage plans. It even underscores the rising threat from orbital debris and solar storms. But where is the transparency from insurers in the United States and Europe? Shareholders hear about quarterly premium pricing shifts. Policyholders hear about “acts of God” exclusions. What neither group hears is how carriers would respond if a close-approaching asteroid, such as Apophis in 2029, altered orbital dynamics or damaged satellites critical to global commerce.
