Moonrock partners with Apollo for emerging drone risks

UK drone insurance provider, Moonrock Insurance, has secured new capacity from Lloyd’s player Apollo Syndicate 1969.

The move comes as Moonrock is expanding its portfolio of cover with the launch of a new drone insurance product, designed to provide coverage for all non-standard drone operations.

According to Moonrock, the expansion of cover has come about as a result of what it terms an “exponential increase” in requests for insurance for non-standard drone operations.

Such requests include Beyond Visual Line of Sight drones (BVLOS), heavy lift drones, swarm displays and crop spraying drones. Moonrock added that it has also developed a new platform specifically tailored to these types of operations.

Moonrock added that, following six months of intensive work, it is delighted to have partnered with Apollo to provide insurance.

“If the drone industry is to unlock its full potential and hit the growth targets estimated to be £45billion by 2030 and upwards of half a million new jobs,” said Simon Ritterband, “then the support and backing from such seasoned aviation insurance professionals, is vitally important.” 

Ritterband, founder and managing director of Moonrock, said the firm is excited about the new opportunities that are presenting themselves in the drone market.

Martin Jackson, head of aviation at Apollo, shares similar enthusiasm about the drone industry:

“The drone industry is an exciting area of innovation that can drive positive change in the UK economy, as well as offering environmental benefits, and is a keen area of focus for the UK government,” he said.

Jackson added that Apollo has engaged in intensive work with Moonrock to create an insurance product that specifically caters for the growth of commercial drones, “and we are pleased to be leading the way in underwriting this and other new risks in emerging industries”.

Firmly established as one of the leading specialist drone insurers, Moonrock already provides cover to thousands of pilots. Insuring everything from recreational flyers, small commercial operators to large fleets of drones across multiple industries such as film and TV, agriculture and construction.

Moonrock Drone Insurance policies also cover areas previously hard to obtain, including invasion of privacy, worldwide cover and insurance for material damages to equipment and public liability.

Firmly established as one of the leading specialist drone insurers, Moonrock already provides cover to thousands of pilots. Insuring everything from recreational flyers, small commercial operators to large fleets of drones across multiple industries such as film and TV, agriculture and construction.

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