Spacecraft insurance on the basis of probabilistic risk

A necessary financial instrument for successful operation in the aerospace industry is the insurance of space projects. This article reviews the development of the space sector of the insurance market. The types of property and personal insurance are presented, which are presented in accordance to the above classification on the basis of probabilistic risk analysis. This classification of space projects insurance is intended for the successful implementation of the national security of our country, the space monitoring of emergencies and the commercialization of the missile and technical industry. Typical insurance risks of the space project and examples of determining the quantitative indicators of risks from the analysis of the reliability of spacecraft components are given. We considered the sequence of insurance. Typical variants and conditions for insurance of space risks are presented, as well as standard procedures for their placement in insurance markets, which allows insurance policyholders to offer insurance coverage that has been worked out in practice and familiar to foreign reinsurers. We also considered the strategy of innovative development of the Russian Federation and the development of models for assessing the risks of projects in the rocket and space industry on the basis of the proposed probability analysis.