But the fragments could land anywhere and in the unlikely event of a piece striking a house in the UK, home insurance would cover the damage, according to AA Insurance.
Part of a falling satellite could potentially cause a lot of damage, given that it may be travelling at up to 4.6 miles (7.5km) per second* and will be white-hot, says Simon Douglas, director of AA Insurance.
Although so far as I am aware no-one in the UK has ever claimed for damage from falling space junk, impact from parts of aircraft or chunks of ice that have formed on an aircraft does occasionally happen. The cost of damage would be met from the ‘impact damage section of a typical home buildings insurance policy and if your car was hit, that would be covered by your comprehensive policy too.
However, under the Space Liability Convention of 1976, the state that launches a space vehicle is responsible for any damage it causes but damage from space debris is so rare that the treaty has never been invoked. In theory, this means that if a bit of the falling satellite crashed on the UK, the cost of damage could be claimed from NASA, Mr Douglas explains.
Scientists expect the satellite to break up into about 26 pieces as it descends to Earth. Weighing about six tonnes, the Upper Earth Research Satellite was launched in 1991 to measure the chemical composition of the upper atmosphere. It completed its work in 2005 and has been gradually descending ever since.
The auto insurance is often taken lightly by the owners of the vehicles. It is thought of just a formality to have auto insurance and the customers do not do enough research before buying good auto insurance for cars. It is always profitable to read well about insurance companies before buying from them. There are many different ways in which you can make your premium lower, mainly by maintaining a good insurance record.
The best way going forward is to have a clean driving record and make sure you drive safely. By doing so, you make sure that you avoid any kind of accidents. But, it is not always your fault in every accident. Read more…
You are a first time business owner and are raring to get started on your business. First, have you heard of business liability insurance? Even if your business is a small one, it is still important to think about business liability insurance as it safeguards you against potential losses in the future. It is something to consider and at the very least, you do not need to worry that you will incur major losses if something untoward were to happen to your goods. Business liability insurance coverage will ensure that you are able to claim back for any damages incurred while the policy is in effect. Read more…
If you are a business owner, it is best for you to own at least one general liability insurance policy. This is because you will never know when unfortunate events happen, such as a customer gets injured on your premises, misunderstandings, dissatisfaction from customers, foul play from business competitors and other incidents, which may lead to claims and lawsuits against you. With general liability insurance for business owners, liability risks that are faced by your business can be protected by your policy. The legal and defense costs spent on the case will be compensated, if they are covered by your policy. Read more…
Willis has launched a product for companies with key locations, suppliers or customers located in the vicinity of a nuclear power station.
The new offering covers business interruption costs should a plant’s safety be compromised and an exclusion zone be put in place, having been developed in response to the Japanese earthquake and tsunami that triggered a meltdown at the Fukushima nuclear power plant. <
Majority of the car owners are now less using their car to reduce the rising motoring cost. Around 48% of the car owners are cutting their trips so as to control the increasing motoring cost. The rural drivers are found to be more conscious of cutting back their journeys as compared with their urban counterparts so as to lower the fuel usage as well as avoid any accident that in turn influences car insurance premium. The car owners are searching reasonable insurance deal at car insurance comparison site that suits their budget.
Around 40% of the rural drivers are reluctant to use their car for short trips as compared to around 32% of the urban drivers.
Anyone with a holiday planned over the next couple of months must be worried at the news that another Icelandic volcano has started to disrupt travel across Europe. The 2010 eruption was said to be a “once in a hundred year” event yet a little over 12 months down the line we’re having another one!
In 2010 the ash plume from the Eyjafjallajökull volcano caused six days of disruption, leading to 100,000 flights being cancelled, stranding 10 million passengers, costing the airline and travel industries millions in lost revenue. The ex
American Commerce Insurance, which offers auto insurance, has received an A+ rating from the rating agency Satndard & Poor. According to the press release on the American Commerce website, the financial strength rating from increased from an A on MAPFRE USAs subsidiaries – Commerce and Citation – and the outlook is promising. They consider the companies to be strategically important and because of this their credit rating has been raised from BBB to BBB+.
AM Best also continues to rate MAPFRE companies as A+ Superior. These high rating are truly key in the success of companies such as American Commerce. Standard & Poors report says that the decision reflects their capitalization and states that their future is very strong. Th
A few weeks ago, I read an article that indicated that home insurance fraud was reducing, as was car insurance fraud. The industry, it said, was breathing a collective sigh of relief as the costs associated with fraud were going down. Well, that may be true of 2011 so far if those indications are correct but, according to another report this week, 2010 was an incredibly bad year for home insurance companies as far as their costs were concerned… and for homeowners and tenants given that their premiums will rise as a result.
In 2010 alone, there were approximately 133,000 fraudulent claims discovered by investigators in total spanning the entire insurance industry. T