LONDON — The sudden failure of Maxar Technologies’ WorldView-4 optical Earth observation satellite this year was a painful reminder for some insurance underwriters of the risk associated with long-term insurance policies.
The rewards are clear enough. Underwriters can generate higher annual premiums than they would likely get from the same policy were it renewed every year. For the customer, in this case Maxar, the additional cost is offset by the predictability of the premium and the coverage and the fact that there in no need to renegotiate the policy every . . .
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