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International

Troubled Russian spacecraft Progress-M27M insured for $39 million

April 30, 2015 Reprints

Russia-based Ingosstrakh Insurance Co. and Sogaz Insurance Group are the insurers of the spacecraft Progress-M27M, which has failed in its mission to dock with the International Space Station, reported Forinsurer.

The spacecraft and its rocket are insured for 2 billion Russian rubles ($39 million). The spacecraft did not come into the proper orbit following launch and subsequently failed to deliver cargo to the space station. Under the insurance contract each insurer shares 50% of the risk.

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Troubled Russian spacecraft Progress-M27M insured for $39 million

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