![[Toyota Times] Century as a Brand, Lexus as Innovation: All the Details on Toyota's New Project!](https://businessfortnight.com/wp-content/uploads/2025/10/Toyota-Times-Century-as-a-Brand-Lexus-as-Innovation-All-218x150.jpg "[Toyota Times] Century as a Brand, Lexus as Innovation: All the Details on Toyota's New Project!")
A pair of malfunctioning satellites could, if they can’t be fixed, cost insurers hundreds of millions of dollars. The satellites are owned by internet company Visasat.
The two satellites could result in as much as $770 million in insurance claims if Viasat isn’t able to salvage them. One of the satellites, Viasat-3 America, has issues with its antenna — if it can’t be fixed than it could result in $420 million insurance claim, Bloomberg reported.
Another Viasat satellite with previously reported electrical issues could result in another $350 million in claims.
The satellite insurance market is an emerging market with the potential to bring in hundreds of millions per rocket launch. By comparison, the global car insurance market is valued at over $650 billion.
While Viasat is yet to file a claim on either of its floundering vessels, Bloomberg reports that fear of such enormous loss could lead to some insurance providers getting out of the satellite market. In 2019, the industry made $788 million in claims paid.
Raising concerns further are the growing satellite internet constellations like Elon Musk’s Starlink. But so far, the company has opted not to insure the equipment it puts in orbit.
