OREANDA-NEWS. August 14, 2012. The Express MD2 satellite, whose launch on 06.08.2012 ended in failure, was insured by Ingosstrakh Insurance Company. The insurance sum amounts to 1 billion 177 million 149 thousand rubles; the satellite was insured for the period of launch and operation in orbit for the maximum term of 1 year from the time of launch. The insurant under the agreement is “Kosmicheskaya Svyaz” FGUP (Federal State Unitary Enterprise).  The agreement was reinsured on the international market in the leading reinsurance companies.

Ingosstrakh Insurance Company will perform all the obligations undertaken in accordance with the concluded agreement, if the emergency start is acknowledged an insurance case.  At present, the company specialists are in constant touch with the insurant, finding out all the circumstances and reasons for what happened.

According to preliminary information, the launch of Proton-M rocket vehicle. This put in orbit the Express MD2 communication satellite, ended in failure dues to a fault in the functioning of Briz-M upper stage.

The Express MD2 communication satellite was created in the Khrunichev Center jointly with the Italian subdivision of Thales Alenia Space. This is the second MD series space vehicle, designed and manufactured by the Russian enterprise. The space vehicle was intended to ensure continuous round-the-clock retransmission of information streams of different directions in the system of RF satellite communication and broadcasting.