Jan 26, 2022
Richard Parker is the Divisional
President and Co-Founder of Assure Space, an underwriting agency
that provides insurance for all aspects of the space industry
including traditional launch and in-orbit launch vehicles and
satellites. He’s been in the space industry for the last 35 years
and shares what’s happening in this exciting industry in this
- How does someone get into space
- Richard shares his extensive background and
what he’s up to today with Assure Space.
- In this context, space insurance is covering
the asset in space and how it got there.
- Most of Richard’s business is in the commercial
sector and not in the public/government sector.
- When would an insurance claim be fulfilled in
- In a good year, a satellite company might only
sell 4‒5 spacecraft in a year.
- Quality control is incredibly thorough in this
industry. There can’t be room for error, which is good for the
space insurance industry because it means there is a very small
- What questions do you ask before insuring a
- Where is this industry headed in the next five
- Richard shares his thoughts on how the
insurance industry can be more exciting for young
- So many people do not know space insurance even
exists. Education and publicity are key.
- What does Richard wish he’d known sooner about
Keep Getting Better
“When we talk about space
insurance, we’re really talking about first-party
“When I think about space
insurance, I think we’re really lucky to be covering satellites and
rockets. The satellite manufacturer industry is very
“This is exciting. It’s never
stopped being exciting. We were the first insurer to provide
hardware on a space station. It’s never ending, the space station