Turkey: Three operating satellits are insured by the state owned Turkiye Sigorta (Turkey Insurance)

20 November 2020 —
For the first time, Turksat, the only satellite operator in Turkey has fulfill an insurance policy with Turkiye Sigorta (Turkey Insurance) for the three operating satellites: 'Turksat 3A' (launched in June 2008), 'Turksat 4A' (February 2014) and 'Turksat 4B' (October 2015).

The insurance cost has for 280 million dollars and will cover risks such as: fire, satellite moving out-of-orbit, meteorite impact and collisions for one year.

The satellites will provide vital services such as disaster management, climate change monitoring, communications and access, according to Turksat's general manager Cenk Sener.

For the next period there are scheduled another two satellites for being launched: Turksat's fourth satellite 'Turksat 5A' on next month and 'Turksat 5B' on next year.

Turkey Insurance was created in September 2020 due to the reunion of six state-run insurance and pension companies.

Source: meinsurancereview.com