All Systems Go for Sciemus Satellite Launch Insurance Product
June 16th - Sciemus has now entered the satellite launch insurance market with US based specialty line insurance carrier RLI. This new venture begins June 2011, and will cater to the launch +1 year satellite insurance market.
On the back of the past 5 years of success in the in-orbit satellite insurance market, Sciemus is now broadening their offering into the launch market with the aim of delivering quality insurance capacity through the implementation of Sciemus patented risk assessment models. These models are used in the pricing of all Sciemus insurance product offerings.
RLI will also be participating in the Sciemus space consortium (Sciemus Space Insurance Services Limited), to provide in-orbit satellite insurance coverage to the market in addition to launch insurance.
RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving niche or underserved markets. RLI operates in the U.S. in all 50 states from office locations across the United States. RLI's insurance subsidiaries – RLI Insurance Company, Mt. Hawley Insurance Company and RLI Indemnity Company – are rated A+ "Superior" by A.M. Best Company and A+ "Strong" by Standard & Poor's. RLI's new subsidiary, Contractors Bonding and Insurance Company, is rated A "Excellent" by A.M. Best Company. RLI is recognized as one of the insurance industry's top performing companies by its designation as a Ward's 50® Top P&C Performer and has been a member of the group for 20 straight years since the list's inception in 1991.