Intelsat 29e loss (2019)
A geostationary satellite lost in April 2019, three years after launch, which its operator had chosen not to insure in orbit.
A large fleet operator can decide to self-insure in orbit: it relies on diversification across dozens of satellites and keeps the premium instead of paying it every year. The calculation holds as long as losses stay rare and small relative to equity; it breaks when a recent, expensive satellite disappears at once. The Intelsat 29e loss is the textbook case of that choice, and also of how fragile a new-generation satellite can be in its first years. Finally, it shows a loss that is not only an asset: the satellite's maritime and aviation customers lost service, harm that only a contingent business interruption cover or a service contract could have absorbed.
On April 7, 2019, Intelsat 29e, launched in January 2016, suffered a propellant leak followed by a loss of contact; the operator declared it lost on April 18, 2019. The satellite was not insured in orbit, and the investigation named a micrometeoroid impact or an electrostatic discharge as probable causes.
Follow the research
One letter a week. First, the week's underwriting note, when one is published: a dated, argued decision, signed by Paul Bernardski. Then what the observatory published on cyber risk, political risk and insurance. No account, no tracking.
No spam, one-click unsubscribe, no data ever sold.