OREANDA-NEWS. The risks involved in the launch of Soyuz-2.1b carrier rocket with Glonass-K spacecraft, as well as the risks of flight tests of the satellite in space, were insured by Ingosstrakh Insurance Company and SOGAZ OJSC for RUB 2.17 bn. The spacecraft was successfully launched from the Plesetsk cosmodrome on December 1, 2014.

The insurant was the Federal State Unitary Enterprise "Center for Operation of Ground-Based Space Infrastructure" (FSUE "TSENKI"). Insurance protection covered the risks of the total loss of the spacecraft and an emergency launch of the carrier rocket, as well as the risk of failure to launch the satellite into target orbit or impossibility of such launch. The spacecraft is also insured against total loss during flight-testing.

The agreement was concluded on the terms of coinsurance. Each company has a share of 50%.

Glonass-K is a series of spacecraft in Russian GLONASS global navigation system of the third generation, which were developed by Academician M.F. Reshetnev Information Satellite Systems OJSC. The active lifetime of Glonass-K is 10 years.