Apollo, a leading insurance and reinsurance group, has broadened its insurance offerings to include drone product liability, as part of Moonrock’s existing binder with the insurer.
The partnership aims to meet the growing demand for comprehensive insurance products as drone usage surges across various industries, according to Insurance Business Mag.
As of March 2023, the Civil Aviation Authority reported 513,860 active registered drone operators in the UK, with government support aiming for widespread commercial drone integration by 2030.
The collaboration now includes liability coverage for hobbyist, commercial, and non-standard drone operations, along with legal liability insurance for drone product manufacturers — a new feature Apollo expects to gain traction as the market develops.
Moonrock’s policies cover diverse uses such as agricultural spraying, film production, drone deliveries, beyond-visual-line-of-sight (BVLOS) operations, and the emerging electric vertical take-off and landing (eVTOL) sector, set to revolutionize future transport.
Available globally, these solutions reflect Apollo and Moonrock’s shared commitment to innovative insurance offerings, building on their initial 2023 partnership that launched Moonrock’s drone insurance facility.
“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,” Apollo class leader of aviation Martin Jackson said. “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” with its latest venture into product liability insurance through its 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 added.
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