World’s first space junk insurance could shield satellites from orbital threats

The article discusses a groundbreaking partnership between California-based startup Arkisys and London-based Odin Space to launch the world’s first insurance specifically designed to cover collisions with space debris in Low Earth Orbit (LEO). Space debris, particularly tiny, non-trackable fragments traveling at extremely high velocities, poses a significant and previously uninsurable risk to satellite operators. Odin Space’s innovative “black box” Nano Sensors, integrated into Arkisys’s upcoming Cutter spacecraft, provide forensic evidence of debris impacts by recording precise collision data. This technology enables insurers to offer targeted, lower-cost coverage—up to 100 times cheaper than traditional mission-wide insurance policies—making protection more accessible for satellite operators and supporting the emerging in-space circular economy. The partnership marks a pivotal shift in managing the growing threat of lethal space debris, which has traditionally forced many startups to operate uninsured due to prohibitive premiums. Odin’s sensors distinguish between mechanical failures and debris strikes, facilitating rapid and accurate insurance claim validation. Arkisys’s Cutter spacecraft