SPACE INSURANCE ECOSYSTEM IN INDIA

• Space insurance = risk-transfer cover for launch, in-orbit, third-party liability and re-entry phases of a space mission; in India offered by Indian insurers in partnership with global insurers, re-insurers, underwriters and brokers.
• Topic sits at the intersection of liberalised Indian space sector (Indian Space Policy 2023), IRDAI-regulated insurance, and international space law obligations (Outer Space Treaty, Liability Convention).
• Examinable because it touches GS-III (Sci & Tech, economy) and GS-II (international treaties, regulation).