ATRIUM SPACE INSURANCE CONSORTIUM

Space Insurance has found a natural home at Atrium. At the beginning of 2007 the Atrium Space Insurance Consortium (ASIC) was formed to specialise in the writing of satellite launch and in-orbit insurance.

Over the years Atrium has built an excellent reputation, offering coverage in many of the specialist classes, including aviation, energy, marine, property, professional indemnity and accident and health. Space is a complimentary fit to these specialist classes of business, providing a new line that rarely accumulates, as well as increasing product diversity.

ASIC is led by Atrium's Syndicate 609. A further four Lloyd's syndicates have delegated their space underwriting authority for ASIC to write on their behalf, giving ASIC a line of USD 22m for any one satellite or launch. With all members of the Consortium being Lloyd's syndicates, ASIC benefits from Lloyd's 'excellent' security rating.

ASIC is managed by Atrium Insurance Agency Limited (AIAL), a UK coverholder and a wholly owned subsidiary of Atrium Underwriting PLC, authorised and regulated by the Financial Service Authority.

Atrium has employed an exceptional team to manage ASIC, with a unique blend of underwriting and engineering experience. The underwriting team, based in London, is headed by David Wade, who is assisted by Brian Spark and Lee Davis. Brian's involvement in the space insurance market since its formation brings a wealth of knowledge to the team and detailed insight into policy wordings. Lee brings additional years of space market experience as well as the operational expertise to run a successful consortium.

David's satellite engineering background in combination with his underwriting experience complements the skills of the rest of the team, ensuring a synergy of policy wordings and engineering risk assessment.

In this highly technical class of insurance, a thorough risk assessment is essential. To this end, Atrium has established an engineering team which is without parallel. ASIC's engineering team are based in Ottawa, Canada. David Hoffer and Robin Gubby have over 23 years and 30 years of satellite engineering experience respectively. Between them they have worked at the majority of satellite manufacturers and participated in launch campaigns for numerous commercial vehicles. For the past decade both David and Robin have consulted exclusively to the insurance market giving ASIC a unique engineering perspective. David and Robin are supported in the Ottawa office by Beth Grant who will utilise her IT background to administer ASIC's technical database and manage the office.

Together this team provides ASIC's clients and Consortium members with industry professionals that understand both the insured's and insurers's positions and can provide the ideal solution to their requirements.

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