With the rapid growth of Science and Technology, the Government of India has laid special emphasis on the development of Space Technology in the country. Obviously, this type of high technology business could not be commercially developed without insurance protection. We, at the J. B. Boda Group, jointly with our London associates, developed satellite insurance contracts along with Indian insurers and the first satellite viz. INSAT 1 A was insured in 1981, providing the coverage for launch, in-orbit risks and also losses to third parties. Since then, we have developed expertise for satellite insurance and reinsurance and successfully designed insurance programmes for the satellites launched by the Department of Space / Indian Space Research Organisation (ISRO) in the INSAT 2 & INSAT 3 series. We are proud of our association with the Department of Space in insuring space related ventures.
Zaheer Abbas Virani