The insurance industry has always been at the forefront of adapting to technological advancements. In recent years, the sector has witnessed a rapid transformation driven by data analytics, artificial intelligence, and innovative insurtech solutions. Against this backdrop, one company, Skytek, has emerged as a key player in revolutionizing the insurance landscape. Skytek will once again be present at Rendez-Vous de Septembre, an event that brings together leaders and innovators from the global insurance market.
Sarah Bourke and Paul Kiernan’s Skytek started out providing instruction manuals for space. Today its international procedural viewer is behind the checklists and operations that help astronauts keep the International Space Station in orbit. Having just won a contract with the European Space Agency, Skytek is due to repeat the feat on board Gateway, a lunar space station slated for launch in 2028. The company has since moved into Earth observation, providing real-time satellite imagery to insurance companies, including Aon, Chubb and Airbus.
Hurricane Idalia, the ninth named storm of the 2023 Atlantic hurricane season, made landfall in Florida’s Big Bend region near Apalachee Bay as a Category 4 hurricane on Wednesday, August 30, 2023.
Idalia formed as a tropical depression on August 27 near the Yucatan Peninsula and rapidly intensified over the warm waters of the Gulf of Mexico. The storm reached Category 4 status with sustained winds of 130 mph and gusts of 160 mph before making landfall over the counties of Taylor, Dixie and Levy in Florida.
Skytek hosts their ESA insurance user requirement workshop at Lloyd’s London on emerging space technologies to support sanctions compliance.
On February 21st, 2023, Skytek recorded that 58 ships with an aggregating market value of $440 million remained trapped in Ukrainian seaports. On February 25th, 2023, a year will have elapsed since the seaports of Ukraine have been closed for entry and exit. Under the Institute War & Strikes Clauses (IWSC), owners are entitled to claim a Constructive Total Loss for the 58 vessels.
On February 24th, 2022 Russia initiated a military invasion of Ukraine, resulting in the suspension of shipping operations in the Ukraine ports of the Black Sea and the Sea of Azov until further notice.
Russian military fighting in the city of Kherson on February 24th was pushed North and occupied Kherson International Airport on February 25th, 2022. Satellite imagery acquired on March 15th highlights an increase in Russian military trucks presence and at least 20 helicopters stationed near the runway.
Skytek highlighted the vessels that were able to depart the region, just as the Ukraine ports in the Black Sea and the Sea of Azov were closing.
In this report, we go into detail on the vessels that were in the ports of Odesa, Yuzhny, and Mykolaiv.