Russia's Soglasie Insurance Company has begun to study the circumstances surrounding the Soyuz MS-10 spacecraft's booster failure and expects the payment amount to be one of the largest in recent decades if the incident is recognized as an insured loss, the company's CEO Maya Tikhonova said on Thursday.
MOSCOW (Pakistan Point News / Sputnik - 11th October, 2018) Russia's Soglasie Insurance Company has begun to study the circumstances surrounding the Soyuz MS-10 spacecraft's booster failure and expects the payment amount to be one of the largest in recent decades if the incident is recognized as an insured loss, the company's CEO Maya Tikhonova said on Thursday.
Earlier in the day, the Soyuz-FG launch vehicle failed to take the Soyuz MS-10 spacecraft with the new crew of the International Space Station (ISS) into space. Russian cosmonaut Alexey Ovchinin and NASA astronaut Nick Hague managed to eject in a rescue capsule and make an emergency landing in Kazakhstan alive and unharmed. This became the first failure of a manned space launch in modern Russian history. Soglasie insured risks associated with launching the Soyuz-FG booster with the Soyuz MS-10 spacecraft and docking it with the ISS in the amount of 4.65 billion rubles ($70 million).
"We have begun to consider the circumstances of this accident," Tikhonova said, as quoted by the company's press service.
If this accident is recognized as an insured loss, it will be the first of its kind in the recent history of Russian insurance, and the amount of the insurance payment may be one of the largest in recent decades, the top manager noted.
Risks under this contract have been reinsured by high-ranking Russian and Western insurance and reinsurance companies, she added.
