Managing Space Risks: A Professional's Viewpoint
Wired News' May Issue has an interesting article on Alden Richards, founder of the niche insurance brokerage Space Machine Advisors (SMA).
"Wired Profile: Taking big risks on space shots"
In 1991, Richards was bounced from the prestegious New York insurance brokerage Johnson & Higgins because he was spending too much money pursuing new space insurance accounts, but now his boldness has landed him accounts with Boeing
to launch Hughes satellites on Delta IIIs and SeaLaunch's
Zenit
. Time will tell whether he has properly assessed the risks or not. But the advent of safer RLVs will attract more insurance pioneers like him. And eventually safe, inexpensive space flight will become routine enough to even attract conservative brokers who will in turn drive safety, reliability and cost to the levels enjoyed by commercial aviation.
"Wired Profile: Taking big risks on space shots"
In 1991, Richards was bounced from the prestegious New York insurance brokerage Johnson & Higgins because he was spending too much money pursuing new space insurance accounts, but now his boldness has landed him accounts with Boeing
to launch Hughes satellites on Delta IIIs and SeaLaunch's
Zenit. Time will tell whether he has properly assessed the risks or not. But the advent of safer RLVs will attract more insurance pioneers like him. And eventually safe, inexpensive space flight will become routine enough to even attract conservative brokers who will in turn drive safety, reliability and cost to the levels enjoyed by commercial aviation. 