LightSquared Satellite Disabled By Last Week's Solar Storm

volts writes "Troubled LightSquared's primary Skyterra 1 satellite has been out of service since the solar storm on March 7. The company says it is 'working through the rebuild of the satellite tapping into the resources that were involved in the original program.' This development follows a stream of bad news including layoffs, default on payments, the resignation of CEO Sanjiv Ahuja and FCC rejection of a scheme to repurpose satellite frequencies for cellular data due to interference with GPS. Another kick in the teeth as company struggles to avoid bankruptcy."

Comments

Re:Interesting

[tomhath]

This is much closer to real life than you probably think. After Hurricane Katrina, people found they didn't have flood insurance. So they sued, claiming their house was blown apart by the wind before it washed away.

Insurance

[Kozar_The_Malignant]

According to Space News, "SkyTerra 1 is insured for about $268 million, a policy for which LightSquared paid a $37.5 million premium." You can't talk about actual coverage for a loss without having the policy in front of you. Solar flares are a pretty obvious risk for which you would want coverage, although the obvious big risk is total loss on launch.