Super 30 GK Questions on SPACE INSURANCE

Super 30 GK questions on Space Insurance is helpful to all students and industry professionals. Before starting let us discuss some details about Space Insurance in nutshell.

Space Insurance is a part of ‘Satellite Insurance’, sometimes both these words are also used as interchangeably.

Space insurance is mainly divided into 04 types of insurance coverage. The policies under are tailor made and can be customized as per the policyholder’s requirement.

Along with material damage cover, these policies can also customize for insurance coverage of income and loss of profit .The coverage of First and third party damage is also one of the feature of Space insurance policies.

Commercial satellites which have been used for communication and television transmissions are often require suitable insurance coverage in terms of sum insured and required coverage through different clauses.

This insurance Industry has both public sectors along private sector Insurance companies.

In order to commercially explore more into Indian Space Programme, a wholly Government of India(GOI)owned NewSpace India Limited(NSIL)has been incorporated in March 2019, having corporate office at Bengaluru.

NSIL is the commercial arm of Indian Space Research Organisation(ISRO). Presently, this new entity NSIL has an authorized capital of ₹100 crore and having paid-up capital of ₹ 10 crore.

The NSIL engage in PSLV production, SSLV Manufacturing, Launch Services, Satellite based services, Satellite Building and sub-systems and technology transfer.

At present, some of major global insurance players in Space insurance are LIyod’s of London, Munich Re, Marsh, Beazley, AXA XL and Starr.

Q-1- What is the full form of ACSC ?

  1. All Countries Satellite Corporation
  2. American Commercial Satellite Corporation
  3. American Communication Satellite Company
  4. American Communication Satellite Corporation

Option-4 ACSC stands form American Communication Satellite Corporation

Q-2- ACSC was founded in _______

  1. 1961
  2. 1962
  3. 1964

Option-2 The American Communication Satellite Corporation (ACSC), founded in 1962.

Q-3- When was the first Space insurance Policy bought by ACSC?

  1. April 5,1964
  2. April 5,1965
  3. April 6,1964
  4. April 6,1965

Option-4 On 6 April 1965, ACSC obtained the first space insurance policy to protect the first commercial geostationary communication satellite, Early Bird (an Intelsat I-F1 satellite)

Q-4- ACSC’s first Space insurance policy was placed with

  1. LIoyd’s
  2. Swiss Re
  3. Munich Re
  4. Hannover Re

Option-1 The first satellite insurance was placed with Lloyd’s of London

Q-5- The first Space Insurance policy was placed for Pre Launch Phase or Post launch phase?

  1. Pre launch
  2. Post launch
  3. both pre and post launch
  4. none from pre and post launch

Option-1 In 1965 the first satellite insurance was placed with Lloyd’s of London to cover physical damages on pre-launch only.

Q-6- What is the full form of NSIL, a public undertaking is ________?

  1. New Space India Limited
  2. New India Space Limited
  3. National Space India Limited
  4. National Space India Limited

Option-1 NSIL full form is New Space India Limited, which is a public undertaking.

Q-7- NSIL came into existence in _____________

  1. March 5, 2019
  2. March 5, 2020
  3. March 6, 2019
  4. March 6, 2020

Option-3 New Space India Limited (“NSIL”), a public undertaking incorporated in 6th March 2019.

Q-8- Which start-up has partnered with New Space India Limited (NSIL) to launch India’s private remote-sensing satellite?

  1. Pixxel
  2. Agnikul
  3. Vesta Space
  4. Bellatrix Aerospace

Option-1 Leading space start-up Pixxel has signed an agreement with the NewSpace India Limited (NSIL) to launch the country’s first private remote-sensing satellite. The satellite is to be launched on an ISRO PSLV rocket in early 2021.

Q-9- INSAT-2E was launched from

  1. Peru
  2. India
  3. Mayotte
  4. French Guiana

Option-4 INSAT-2E was launched by Arianespace, using the Ariane 42P carrier rocket from ELA-2 to the Guiana Space Centre.

Q-10- What was the name of the Lunar mission that landed humans on the Moon?

  1. Viking 1
  2. Apollo 11
  3. Lunokhod 1
  4. Chandrayan I

Option-2 Apollo 11 was the first Lunar mission that landed humans on the Moon.

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