ispace Reaches Agreement with Mitsui Sumitomo to Become World’s First User of Commercial Lunar Insurance17 Nov, 2022Tokyo—November 17, 2022— Mitsui Sumitomo Insurance Co., Ltd. (“MSI”), a subsidiary of MS&AD Insurance Group Holdings, Inc. based in Tokyo, Japan, has reached an agreement with ispace, inc. (ispace), a global lunar exploration company, to provide the world’s first “Lunar Insurance” policy that comprehensively covers risks arising from ispace’s Mission 1, from the launch of the rocket to the lunar landing.The agreement marks the establishment of the world’s first comprehensive lunar insurance program, offered by Mitsui Sumitomo, to cover risks associated with lunar missions from launch until landing on the lunar surface.The policy covers from the launch of the rocket carrying the lunar lander, through the establishment of communication and data transmissions between the lander and mission control following landing on the lunar surface.Insurance coverage will play an important role towards the realization of high-frequency, low-cost lunar transportation provided by ispace given the inherent risks and high costs associated with spaceflight. Having been evaluated as possessing reliable technology and a dependable business model by the international space insurance market via MSI and global insurance broker and risk advisor Marsh, ispace will utilize such a policy from its first mission, planned to launch as early as this November.In the future, ispace intends to broaden the scope of insurance coverage, deepening its commitment to promoting the development of insurance and other business initiatives that will contribute to the creation of the cislunar ecosystem. ispace believes that by 2040 the Moon will support a population of 1,000, with 10,000 people visiting every year, and, as part of this vision, the company aims to be a key orchestrator in the creation of this new industry.Since 2019, when MSI joined ispace’s HAKUTO-R program as a Corporate Partner, the two organizations have been collaborating to develop the world’s first lunar insurance service. In April 2022, ispace signed a Memorandum of Understanding (MOU), which stated that ispace would utilize MSI’s new lunar insurance to cover risks arising in the lunar business named the “Lunar Insurance Plan.” Today’s announcement confirms a formal agreement has been reached and ispace will utilize this mutually developed insurance policy, with additional support from Marsh, for Mission 1.Mitsui Sumitomo Insurance Company, Limited (https://www.ms-ins.com/english/)Established in 1918, Mitsui Marine & Fire Insurance Co., Ltd. merged with Sumitomo Marine & Fire Insurance Co., Ltd. in 2001 to form Mitsui Sumitomo Insurance Co., Ltd. In 2008, Mitsui Sumitomo Insurance evolved into a holding company in order to diversify its business. In 2010, it then integrated management with Aioi Insurance Co., Ltd. and Nissay Dowa General Insurance Co., Ltd, leading to the creation of the MS&AD Insurance Group, which is now a top ten Fortune Global 500 company in insurance Property & Casualty category. Mitsui Sumitomo Insurance is the core enterprise of the MS&AD Insurance Group and holds the leading position for non-life insurance market in Japan. In addition to automobile, fire and personal accident, Mitsui Sumitomo Insurance also offers insurance services for satellite launches.About ispace, inc. (https://ispace-inc.com/)ispace, a global lunar resource development company with the vision, “Expand our Planet. Expand our Future.”, specializes in designing and building lunar landers and rovers. ispace aims to extend the sphere of human life into space and create a sustainable world by providing high-frequency, low-cost transportation services to the Moon. The company has offices in Japan, Luxembourg, and the United States with more than 200 employees worldwide. ispace technologies U.S., inc. is part of a team led by Draper, which was awarded a NASA Commercial Lunar Payload Services (CLPS) Program contract to land on the far side of the Moon by 2025 (as of September 2022). Both ispace, and ispace EUROPE S.A. (ispace EU) were awarded contracts to collect and transfer ownership of lunar regolith to NASA, and ispace EU was selected by ESA to be part of the Science Team for PROSPECT, a program which seeks to extract water on the Moon.Established in 2010, ispace operated “HAKUTO” which was one of five finalist teams in the Google Lunar XPRIZE race. The company’s first mission as part of its HAKUTO-R lunar exploration program is currently planned for as early as November 2022 and is expected to launch from the United States on a SpaceX Falcon 9 rocket. ispace has also launched a lunar data business concept to support new customers as a gateway to conduct business on the Moon.For more information, visit: www.ispace-inc.com; Follow us on Twitter: @ispace_inc.# # #
We are proud to share that our Founder & CEO Takeshi Hakamada has been named one of @forbesjapan's Top 10 Entrepreneurs for 2023! This ranking highlights entrepreneurs who are driving the Japanese economy, many of whom are making waves on a global scale.
Mark your calendar! Our HAKUTO-R Mission 1 is currently scheduled to launch on Nov. 30 at 3:39 a.m. (EST). After @SpaceX launch coverage ends, our post-separation live streaming will begin. Watch with us here: youtu.be/lLmnMO2LHx0#ispace #hakuto_r #space #lunarquest
It will reach as far as 1.5 million km from Earth at its farthest point – roughly four times the distance between Earth and the Moon.
ESA’s global network of tracking stations, #Estrack, will transmit commands to the spacecraft and receive scientific data and status information from #Hakuto_R M1 and the experiments carried out on the Moon#SpaceOnEarth📡🌙
Our #Estrack deep space antennas, with @GoonhillyOrg, will follow #Hakuto_R as it ventures out into deep space and back again on a sweeping trajectory designed to reduce the amount of fuel the spacecraft needs to carry.🖼️@ispace_inc📸Goonhilly 6 antenna, @Jamie_7162
https://twitter.com/ispace_hakuto_r/status/1601838525074526208Quote#HAKUTO -R Mission 1 launch presentation has started streaming!This is available online on HAKUTO-R YouTube 🔽youtu.be/xDRW_ECEc9oLet's watch the launch of HAKUTO-R Mission 1 ❗️It is scheduled to launch at 16:38 (Japan time)!Japanese stream:
#HAKUTO -R Mission 1 launch presentation has started streaming!This is available online on HAKUTO-R YouTube 🔽youtu.be/xDRW_ECEc9oLet's watch the launch of HAKUTO-R Mission 1 ❗️It is scheduled to launch at 16:38 (Japan time)!
ispace just wrapped up their webcast of the launch stating that they were still working to establish communications with HAKUTO-R M1. They did not sound concerned, but it’s in contrast to JPL, which almost immediately established comms with Lunar Flashlight.
https://twitter.com/jeff_foust/status/1601873310236672000Quoteispace just wrapped up their webcast of the launch stating that they were still working to establish communications with HAKUTO-R M1. They did not sound concerned, but it’s in contrast to JPL, which almost immediately established comms with Lunar Flashlight.
Mounted on #Falcon9 #SpaceX )#HAKUTO -R Mission 1 lunar lander 🌕Carrying the thoughts of everyone who supported usFinally launched 🚀Landing is scheduled around the end of April 2023 ✨Please continue to pay attention to #HAKUTO_R 👀#ispace#月を生活圏に .
The first signal for the mission was received. Signal from ispace, inc. lander carrying the Rashid Rover to the surface of the Moon was confirmed at the ground station.#EmiratesLunarMission#UAEtotheMoon
