Insurance platform Apollo and Moonrock, a managing general agent specialising in drone insurance, have launched a new insurance facility designed for drones, electric vertical take-off and landing aircraft (eVTOL) and other aviation innovations.
The facility offers liability coverage up to $100 million and property damage cover up to $22.5 million. It will be led by Apollo, with additional capacity from AEGIS London, AXIS, Beazley, Helvetia, IQUW and others. Moonrock will manage the underwriting and distribution of the product to brokers. The facility is designed to cover a range of operations, from individual’s drones to larger fleets, and is tailored to meet the needs of emerging sectors such as eVTOL.
The development follows an expansion last February, when Apollo extended its insurance offerings to include drone product liability, as part of Moonrock’s existing binder with the insurer. Moonrock has long provided product liability cover for drones, with policies now covering hobby, commercial and non-standard operations.
The expanded offering aims to meet increasing demand for insurance solutions as drone use continues to grow across various industries. According to the Civil Aviation Authority, there were 513,860 active registered drone operators in the UK as of March 2023, and the UK government has indicated that commercial drone use is expected to become commonplace by 2030.
Martin Jackson, class leader of Aviation at Apollo, noted the growing need for higher coverage limits and tailored solutions for complex drone and eVTOL operations. He highlighted Apollo’s focus on providing specialised solutions and expressed optimism about the continued partnership with Moonrock and other capacity providers.
Simon Ritterband, founder and managing director of Moonrock, said the partnership represents a significant step forward in the drone insurance market, enabling coverage for more complex operations involving high-value equipment. He also pointed to the facility's potential to support the growing eVTOL sector.
