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Space Insurance Products

Modern space companies face growing risks — from cyberattacks to technical failures — yet still rely on fragmented insurance built for a different era. This patchwork approach often leaves gaps between technology, liability, and regulatory coverage, creating uncertainty when incidents occur and slowing recovery for space innovators.

Relm’s new Space Insurance Product Suite solves this problem by combining critical protections into a unified structure with two purpose-built solutions:

 

  • NOVASPACE is tailored for upstream providers — companies that design, manufacture, or supply the technologies that power space missions.
  • OMEGASPACE is built for downstream service providers — businesses that operate satellites, process data, or deliver insights and applications derived from space-based assets.

NOVASPACE

  • 01

    Who Is NOVASPACE For?

    NOVASPACE is for upstream providers like:

    • Satellite designers and builders: Designers and manufacturers of spacecraft or subsystems (for themselves or third parties).
    • Component suppliers: Suppliers of spacecraft components, from reaction wheels and star trackers to transceivers and antennae.
    • Software providers: Companies that provide software (including firmware and communications protocols) to the satellite industry.
    • Payload providers: Developers and suppliers of payloads, whether for optical, communications, or space manufacturing purposes.
    • Providers of ancillary services: This includes testing rigs, radiation modelling, and package design for transport.

  • 02

    NOVASPACE Coverage

    First-party coverage includes:

    • Incident response
    • Business interruption and extra expense.
    • Data restoration
    • Bricking
    • Cyber extortion and crime.

    Regulatory coverage addresses:

    • Regulatory investigations
    • Inquiry expenses

    Third-party coverage extends to:

    • Space technology services liability.
    • Space technology product liability.
    • Network security liability.
    • Privacy liability
    • Artificial Intelligence

NOVASPACE Broker Example

Claims Scenario:

OMEGASPACE

  • 01

    Who Is OMEGASPACE For?

    OMEGASPACE safeguards downstream service providers including:

    • Satellite owners and operators: Any business that owns or operates satellites and uses their own data to provide analytics and advice.
    • Analytical service providers: Companies that provide analytics and advice using third party space data (publicly available data, data from dedicated third party satellites, or data integrated from multiple sources, including terrestrial.)
    • Location service providers: Companies that offer secure GPS technologies that enable autonomous applications.
    • Software interfaces: Providers of software or user interfaces that turn space data into actionable information.
    • Next gen service providers: Services include quantum key generation from space, AI-enabled autonomous operations, and advanced navigation applications.

  • 02

    OMEGASPACE Coverage

    First-party coverage includes:

    • Incident response costs.
    • Business interruption and extra expense.
    • Data restoration costs.
    • Bricking
    • Cyber extortion and crime.

    Regulatory cover addresses:

    • Regulatory investigations
    • Inquiry expenses

    Third-party coverage includes:

    • Space services liability.
    • Space technologies liability.
    • Network security liability.
    • Privacy liability
    • Artificial intelligence liability.
    • Management liability

     

OMEGASPACE Broker Example

Claims Scenario:

Backed by Relm’s Class IIGB license and regulatory oversight from the Bermuda Monetary Authority, our space insurance products combine technical precision with financial strength.

Whether you’re developing hardware, deploying satellites, or analysing space data, Relm delivers insurance built for the challenges of the next frontier.