Spacecom expects $196mn insurance payout

The marine cargo market is set to pay out $196mn to reimburse
Spacecom for a satellite destroyed on the launchpad at Cape
Canaveral, Florida, in September.
Spacecom told the Tel Aviv Stock Exchange this week that
satellite supplier Israel Aerospace Industries had informed it that
it would refund the cost effective 24 November.
The loss is understood to be covered by a Pembroke-led
consortium whose participants include Chaucer, Talbot, WR Berkley
and XL Catlin, as
reported earlier by The Insuranc