That portion of a policy's premium that applies to the expired portion of the policy. Although insurance premiums are often paid in advance, insurers typically earn the premium at an even rate throughout the policy term. More Risk Finance and Captives Information from IRMI.
Explorer 1 became the first successfully launched satellite by the United States when it was sent to space on January 31, 1958. A quick response to the Soviet Union's launch of Sputnik 1, Explorer 1's success marked the beginning of the U.S. Space Age.
Space exploration served as another dramatic arena for Cold War competition. On October 4, 1957, a Soviet R-7 intercontinental ballistic missile launched Sputnik (Russian for âtravelerâ), the worldâs first artificial satellite and the first man-made object to be placed into the Earthâs orbit.