Japan’s Mitsui Sumitomo Insurance (MSI), a subsidiary of MS&AD Insurance Group Holdings, has entered into an agreement with lunar exploration company ispace to offer the world’s first lunar insurance. According to a statement published by ispace, the insurance will cover the risks of the company’s first mission to the Moon, with coverage from the launch of the rocket to the landing of the module on our natural satellite.
- 2022 Space Missions: Moon, Earth Orbit, James Webb and More!
- Japanese ispace to send lander to the moon by the end of this year
The signing of the agreement is the result of the Memorandum of Understanding signed between the companies at the beginning of the year. Under the new agreement, insurance coverage includes the Falcon 9 rocket that will carry the payloads and establish communication and data transmission between the lander and the mission control center after landing on lunar soil.
Through its Mission 1 (M1) mission, ispace wants to take the Hakuto-R lander to the Moon, which will be with the Rashid 1 rover, from the United Arab Emirates, a small robot from the Japanese space agency JAXA, among others. The mission would have been launched in early November, but ended up being postponed until the end of the month.
Join the CANALTECH OFFERS GROUP on Telegram and always guarantee the lowest price on your purchases of technology products.
In its statement, ispace highlighted the importance of insurance for M1. “Being assessed as a company with a reliable technology and business model by the international space insurance market, ispace will use the policy on its first mission,” they said.
In the future, ispace plans to expand the scope of insurance coverage, to deepen the commitment to promote the development of this and other initiatives that contribute to the creation of a cislunar ecosystem.
Read the article on Canaltech.
Trending on Canaltech:
- 10 sites that were very successful and no longer exist
- What is the difference between tomography and magnetic resonance imaging?
- The 10 most watched series of the week (11/20/2022)
- Sheep are caught walking in circles for 12 days straight
- 1899 | What to expect from the new series from the creators of Dark?
- The world’s largest iceberg is on its way to disappearing