Who pays when rockets explode? China insures SpaceX’s rivals in orbital race against US

The article discusses how China is insuring SpaceX's rivals in the orbital race, as part of a series on the global impact of SpaceX's IPO. In 2016, a SpaceX rocket exploded during a test, destroying millions of dollars worth of equipment and facilities. The satellite operator, Israel's Space Communications, had an insurance policy worth nearly $300 million, which largely mitigated their financial loss. This event highlights the financial risks involved in space launches and the role of insurance in the industry. The broader series examines how Chinese investors and markets are being influenced by SpaceX's significant valuation.