British Insurance Brokers’ Association (BIBA) members can now benefit from a new member drone scheme.
The association has struck a partnership with specialist broker Flock, which covers commercial drones including unmanned aerial vehicles (UAVs) and electrical vertical take-off and landing (eVTOL) aircraft.
Underwritten by leading aviation underwriters with A+ rated capacity, BIBA members will be able to offer clients cover for hull, equipment and cargo up to £1.5 million, beyond visual line of sight cover and public liability cover reaching as high as £50 million. Custom policies are also available for specific use such as for drone swarm shows, deliveries or offshore operations.
“We are delighted to offer this new scheme to members,” said BIBA head of technical services Mike Hallam. “Flock has proven expertise in this area that will greatly benefit members who need access to this specialist class of insurance, whether that be on a regular or one-off basis. Flock will simplify the process for members to bind risks and offer comprehensive and competitive cover.”
According to Goldman Sachs estimates the commercial drone industry is now worth around £78 billion, and Ed Leon Klinger, CEO of Flock, believes it is growing at a remarkable rate.
“We are excited to bring Flock’s market-leading products to thousands of brokers across the country through the new BIBA drone scheme,” he said. “Working with Flock, brokers can now take advantage of automated binding, end to end claims support and insights from a UAV specialist.”
