Marsh arranges insurance for UK's first space rocket launch

It’s blast off for a unique insurance policy on UK soil.

Brokerage giant Marsh has arranged cover for the first space rocket launch in the region – it has been arranged on behalf of Space Forge and placed with Beazley. Among its features, the policy covers risk of loss to the ForgeStar payload.

“This is truly a historic moment for the UK, as both the ambition and capability to launch satellites into space becomes a reality,” said Neil Stevens, senior VP, aviation and space at Marsh Specialty. “Insurance is a vital consideration for any mission which contemplates commercial space activity; Marsh is proud to work with Space Forge on this landmark project, which will take us all a step closer to in-space manufacturing.”

The launch is expected at Spaceport Cornwall and will carry the ForgeStar-0 prototype space factory that can create materials that are not possible on Earth. Once launched it will be the world’s first fully returnable and re-launchable satellite platform.

“The upcoming launch is a huge moment for Space Forge,” said Space Forge’s CTO and co-founder Andrew Bacon. “It’s been an exciting journey so far, with lots to consider in terms of logistics, legality and security, alongside the actual development, installation and launch of our satellite. It's great to have another important milestone ticked off the list, having secured the correct insurance. It gives us peace of mind as we prepare for our inaugural mission with ForgeStar-0.”