LOSS OF W3B SATELLITE LEADS TO €200M CLAIM

The space insurance market has been hit with a claim for more than €200m ($279m) as a result of the loss of Paris-based Eutelsat's W3B satellite, reports Insurance Day. The loss reportedly was caused by a significant leak in the fuel reserve, which prevented the satellite from refining its orbit, or even making it to a "graveyard orbit". Willis brokered the slip, which is understood to have been distributed amongst most of the players in the space aviation market. The loss could be as high as €232m, reports claimed. Only 24 hours before the launch, Eutelsat is understood to have signed a deal for its next five launches. W3B was launched in the early hours of Friday morning on an Ariane rocket from French Guiana, and was initially declared a success. Eutelsat is one of the world's four big fixed satellite services.