BELTSVILLE, MD. – September 5, 2013 – ViviSat, the leading provider of in-orbit servicing, has announced the selection of Marsh as its insurance broker and risk management advisor. Marsh, a global leader in insurance broking and risk management, teams with clients to provide innovative industry-specific solutions that help them thrive and protect their futures. The selection of an insurance broker marks another key milestone in ViviSat’s mission to offer low-risk satellite life extension and protection services to commercial and government satellite operators.
As ViviSat’s placing broker, Marsh will implement a risk mitigation strategy to effectively represent ViviSat to the insurance community. Marsh will also advise ViviSat during the financing phase of its development. The centerpiece of ViviSat’s satellite life extension service is the ATK-designed Mission Extension Vehicle (MEV). The primary mission of the MEV is to dock with an orbiting satellite and serve as the propulsion and attitude control systems. This enables mission extension for satellites that have run out of maneuvering fuel yet still have healthy payload and power systems. The ViviSat solution prolongs satellite life, saves capital and protects fleet assets for operators.
“We are very pleased to add Marsh to the ViviSat team,” said retired Maj. Gen. Craig Weston, CEO of ViviSat. “Our selection of this well-respected, top-tier insurance broker is an important step in the life of the enterprise, as we plan for the production phase of our satellite life extension service. Marsh’s group of trusted advisors will provide valuable expertise in helping us engage the satellite, launch and underwriting communities to inform them of the low-risk and beneficial nature of our service.”
“Marsh’s Space Projects group is thrilled to be part of the ViviSat team”, said Phillip Crawford, a Managing Director of Marsh USA Inc. “We look forward to helping ViviSat thrive as a business by fulfilling its insurance brokerage and risk advisory needs as it strives to alter the landscape for satellite owners, operators and users through its MEV satellite life extension service.“
ViviSat is a joint venture between ATK and U.S. Space LLC. Further information about ViviSat can be found at the company’s website: www.vivisat.com.
ABOUT U.S. SPACE
U.S. Space LLC is a U.S.-owned provider of dedicated, commercial space solutions. The company was established in January 2009 as a U.S.-owned provider of satellite solutions with a unique model combining the best commercial and government practices. The company, which is run by a small group of highly respected former military and corporate leaders, now offers a variety of dedicated space solutions to serve the nation’s interests. More information on the company is available at www.usspacellc.com.
ATK is an aerospace, defense, and commercial products company with operations in 21 states, Puerto Rico, and internationally. News and information can be found on the Internet at www.atk.com, on Facebook at facebook.com/atk, or on Twitter @ATK.
Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has approximately 26,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital.