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SpaceX will need to pay up for its destruction of an AMOS-6 satellite:
SpaceX may be on the hook to compensate Space Communication Ltd. (Spacecom) for the satellite that was destroyed during the explosion of a Falcon 9 rocket — either with a free trip or $50 million, according to Reuters .
The construction, launch preparation and operation of the AMOS-6 satellite, which would have been used to "significantly expand the variety of communications services provided by Spacecom," reportedly cost the company more than $195 million. The officials from the company also noted that it could also collect upwards of $205 million from Israel Aircraft Industries, which built the satellite. SpaceX hasn't said what kind of insurance it purchased for the rocket, or what that insurance might pay for, Reuters reported. SpaceX wasn't immediately available for comment.
The failure of the launch may also kill a deal for Beijing Xinwei Technology Group to acquire Spacecom.
(Score: 4, Interesting) by theluggage on Monday September 05 2016, @02:07PM
So the typical insurance policy would not yet have been in effect.
...so, are you saying that these 50 squillion dollar satellites aren't insured if the freight aircraft carrying them to the launch site crashes, the hangar burns down or the UPS guy comes when nobody is in and throws it over the fence?
If something that expensive remains uninsured for more than 1 second of its existence then somebody in legal has screwed up. Oh, hang on, I just said that as if it were unlikely...