OREANDA-NEWS. July 05, 2012. Ingosstrakh Insurance Company joined the International Space Activity Participants Association (ISAPA). A corresponding certificate was given to the company in June, 2012.

The Association includes the companies that perform and support different aspects of space activities. ISAPA was established in 2005, and at present it unites over 70 rocket and space industry enterprises and organizations that assist the development of space activity.

Within the framework of ISAPA, Ingosstrakh Insurance Company will stimulate expansion of economic cooperation in the sphere of space activities, realization of joint space projects; the company will also participate in the study and evaluation of the current state, tendencies and problems of development of space equipment and technologies, as well as assist preservation of the historical and cultural heritage of the rocket and space industry, preservation of monuments related to the history of space exploration.

Ingosstrakh Insurance Company occupies leading positions in the sector of space risks insurance in the Russian market. The Company cooperates with the leading space and rocket industry enterprises; it is a member of the Russian Association of Aviation and Space Insurers (RAAKS), as well as foreign pools of space risks insurers (La Reunion Spatiale and SCOR).

The following comments were given by Anton Almazov, Head of Department for Insurance of Space and Aviation Risks of Ingosstrakh Insurance Company: “Ingosstrakh Insurance Company occupies a considerable share of the space insurance market, and in this connection we could not stand aside from the initiatives of the International Space Activity Participants Association. Within the framework of space risks insurance, we accept considerable shares of risks, and their volume on particular objects may reach USD 20 mln. The company’s stable positions allows us to actively support ISAPA projects and stimulate the development of the country’s strategic market sector.”