PASHA Insurance company will cover the damage related to the "Azersky" satellite, which is supposed to have collided with space debris or a meteorite and is out of order.

Axar.az reports that Fed.az was informed about this by the insurance company.

It was noted that most of the insurance risks of the satellite were transferred to the international reinsurance company.

An agreement has been reached with the reinsurance company with the payment of the already incurred damage. Losses in the amount of 45 million manats will be distributed between "PASHA Insurance" and foreign reinsurance companies according to the ratio of transferred risks.

It should be noted that the Space Agency ("Azerkosmos") under the Ministry of Digital Development and Transport concluded a one-year contract with "PASHA Insurance" on the insurance of the "Azersky" satellite at the end of last year.

The value of the contract was 517,900 manats.