ViviSat + Insurance Broker Marsh Team For Goal… Reduce Risks In Space

[SatNews] …mission… to offer low-risk satellite life extension and protection services to commercial and government satellite operators.

Click on ViviSat’s graphic to learn more. ViviSat, provider of in-orbit servicing, has announced the selection of Marsh as its insurance broker and risk management advisor. Marsh, a global insurance broking and risk management company, teams with clients to provide innovative industry-specific solutions that help them thrive and protect their futures. The selection of an insurance broker marks another key milestone in ViviSat’s mission to offer low-risk satellite life extension and protection services to commercial and government satellite operators. Marsh has approximately 26,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital.

As ViviSat’s placing broker, Marsh will implement a risk mitigation strategy to effectively represent ViviSat to the insurance community. Marsh will also advise ViviSat during the financing phase of its development. The centerpiece of ViviSat’s satellite life extension service is the ATK-designed Mission Extension Vehicle (MEV). The primary mission of the MEV is to dock with an orbiting satellite and serve as the propulsion and attitude control systems. This enables mission extension for satellites that have run out of maneuvering fuel yet still have healthy payload and power systems. The ViviSat solution prolongs satellite life, saves capital and protects fleet assets for operators.

Click on U.S. Space’s graphic to learn more. “We are very pleased to add Marsh to the ViviSat team,” said retired Maj. Gen. Craig Weston, CEO of ViviSat. “Our selection of this well-respected, top-tier insurance broker is an important step in the life of the enterprise, as we plan for the production phase of our satellite life extension service.  Marsh’s group of trusted advisors will provide valuable expertise in helping us engage the satellite, launch and underwriting communities to inform them of the low-risk and beneficial nature of our service.”

“Marsh’s Space Projects group is thrilled to be part of the ViviSat team,” said Phillip Crawford, a Managing Director of Marsh USA Inc. “We look forward to helping ViviSat thrive as a business by fulfilling its insurance brokerage and risk advisory needs as it strives to alter the landscape for satellite owners, operators and users through its MEV satellite life extension service.“

ViviSat is a joint venture between ATK and U.S. Space LLC.

U.S. Space LLC is a U.S.-owned provider of dedicated, commercial space solutions, established in January 2009 as a provider of satellite solutions with a unique model combining the best commercial and government practices. The company is run by a small group of respected former military and corporate leaders..

Click on ATK’s graphic to learn more. ATK is an aerospace, defense, and commercial products company with operations in 21 states, Puerto Rico, and internationally.