PSLV-C62 failure highlights need for space insurance in India
India's latest PSLV-C62 rocket launch failed on January 12, 2026, wiping out 16 satellites—including key government and private projects.
Most Indian startup payloads were uninsured, while Theos-2 (a UK-Thailand earth observation satellite) had launch insurance, which has put a spotlight on how risky and expensive space launches are for startups trying to break into the industry.
Why does this matter?
The loss is huge—up to $250 million gone in seconds—and it's not the first time this has happened.
With high insurance costs already keeping many smaller players out, experts like Chaitanya Giri warn that "No country, in the lower pecking order of currency power, would insure their whatever puny space activities. Insurance is too expensive for such countries. Market demand is low due to high premium costs."
As global demand for launches grows, there's real pressure to create affordable, startup-friendly insurance options so India's space dreams don't get derailed by one bad day.