Space insurance underwriters defended themselves against charges of price gouging and arbitrary premium-rate setting, saying their business has neither the volume nor the profit levels to justify bringing down rates anytime soon. But they did say they are ready to review several industry practices with a view to favoring satellite operators with good reliability records and reducing delays in settling claims. In comments here April 14-15 during the 13th International Space Insurance Conference organized by Pagnanelli Risk Solutions, underwriters, brokers and satellite operators traded jabs over the justification for today's historically high insurance premiums for satellite launch and in-orbit policies.
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