Jul 1, 2026
Richard Parker is the Chairman at Applied Underwriters Aerospace, LLC, where he runs the space team. He recently joined Chris Hampshire for a special episode of In the Know: Ask the Expert, which features their conversation about the structure of space insurance, recent explosions, the typical claims process, and a host of other questions from a live audience.
Key Takeaways
● The structure of space insurance.
● Recent changes in space insurance underwriting.
● Challenges of insuring smaller spacecraft.
● Geosynchronous Earth Orbit characteristics.
● What type of space-specific coverages would Jeff Bezos have?
● Are space insurance products carrier-direct?
● How can an industry professional get hired into space insurance?
● Do captive insurance companies work with space insurance?
● How can space insurance be priced profitably and competitively?
● Is the space insurance economy a growing market?
● Was the recent explosion accurately depicted in the media?
● What does the claims process look like?
● Are there separate coverages for workers' comp and third-party liabilities?
● Will space tourism create new opportunities for space insurance?
In the Know podcast theme music written and performed by James Jones, CPCU, and Kole Shuda of the band If-Then.
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Quotes
● “Space insurance is unique because it doesn’t have a lot of loss history.”
● “Space insurance offers a worldwide opportunity with offerings to the entire commercial space industry.”
● “The space insurance market is efficient and good for clients, but it can be extremely difficult to price.”
● “It’s absolutely fascinating to work on a space insurance claim.”
● “Any growth in space is an opportunity for space insurance.”