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Satellite insurance becomes next frontier for Sompo Japan

Insurer to invest in space communications startup Warpspace

With over 10,000 satellites already traveling in low Earth orbit, demand in medium Earth orbit is forecast to grow. (NASA via Reuters)

TOKYO -- One of Japan's biggest property insurers plans to sell satellite coverage as soon as next fiscal year with an eye on less-crowded medium Earth orbit, Nikkei has learned.

Sompo Japan Insurance's partner in the effort will be Japanese startup Warpspace, which will help assess the risk of launch accidents or collisions in orbit.

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