Apollo has expanded its insurance offerings to include drone product liability, as part of Moonrock’s existing binder with the insurer.
Moonrock, a specialist managing general agent, has long-established product liability cover to support the drone sector. The policies now include coverage for hobby, commercial and non-standard drone operations, backed by A-rated capacity.
The expansion aims to meet growing demand for insurance solutions as drone usage increases across various industries. As of March 2023, there were 513,860 active registered drone flyers and operators, according to the Civil Aviation Authority. The UK government is also encouraging drone use in various industries. In a 2022 ambition statement, the nation foresees commercial drone use to be commonplace in the UK by 2030.
“We have successfully extended our offering into drone product manufacturers’ legal liability, having bound policies already and foresee that to increase as the business grows,” said Martin Jackson, class leader of aviation at Apollo. “We have a very strong partnership with Moonrock and look forward to continued success in innovation in the market.”
Simon Ritterband, managing director and founder of Moonrock, said the company is “taking things to the next level” as it ventures to product liability insurance with its latest product in partnership with Apollo.
“As drones continue to revolutionise everything from agriculture to transportation, it’s clear that this booming sector demands forward-thinking, flexible insurance solutions,” Ritterband said.
Moonrock provides insurance for a range of drone operations, including agricultural spraying, film production and drone deliveries. It also covers beyond-visual-line-of-sight (BVLOS) flights and the eVTOL (electric vertical take-off and landing) sector, which is expected to play a growing role in transportation.
The product is available to customers globally, with Apollo and Moonrock aiming to provide insurers and manufacturers with more offerings in the sector.
The partnership between Apollo and Moonrock started in 2023 when the latter was able to secure backing from the former for a new drone insurance facility.
