.jpg)
The British Insurance Brokers’ Association has teamed up with a major insurer as it looks to address the ever-expanding interest in drone cover.
BIBA has launched a drone insurance scheme with Tokio Marine Kiln that aims to offer comprehensive coverage for companies that operate drones, also known as Unmanned Aerial Systems (UAS), for both commercial or business purposes. The scheme, backed by Lloyd’s, is available through the website onetmk.com and is meant to help brokers quote and bind business quickly online and in real-time.
“Drones offer exciting opportunities for the insurance industry and the number of professional, commercial operators has grown exponentially in the last few years,” said Mike Hallam, head of technical services at BIBA. “Our members and their clients that are drone operators will benefit greatly from competitive premiums and dedicated service levels as well as access to TMK’s Lloyd’s A-rated capacity and expertise in aviation and UAS insurance, backed by an outstanding claims service. We look forward to seeing the results of this exciting partnership.”
BIBA members benefit from competitive terms and coverage for:
- Physical loss of or damage to UAS up to a limit of £100,000 per UAS (inclusive of payloads) while in the air, on the ground or in transit, including theft and malicious damage (larger limits available on request).
- Third party bodily injury and property damage liability – inclusive of losses arising from malicious acts up to a limit of £50 million each occurrence (larger limits available on request).
- Enhanced coverage for invasion of privacy, noise liability, operators indemnity, operators liability and loss of digital assets (cyber) are also available without referral.
“We are thrilled to be offering our product to BIBA brokers in recognition of the market leading position we have established in offering drone insurance to clients over the course of the last decade,” added Robert James, aviation underwriter at TMK. “Our offering sets itself apart from the competition through our outstanding claims service and extensive level of cover which we have carefully adapted over time to cater for the perils facing UAS operators, presented in a clear easy-to-follow format.”
Related stories:
Far Out Friday: Beware flying cabbages
How will drones change insurance?
