Apollo, the technology-driven insurance platform, in collaboration with Moonrock, a managing general agent specialising in drone insurance, has announced the launch of a new insurance facility designed to support emerging risks in drone, eVTOL, and aviation innovation.
The facility offers liability coverage of up to $100 million and property damage coverage of up to $22.5 million.
Capacity is led by Apollo, with additional support from AEGIS London, AXIS, Beazley, Helvetia, IQUW, and other market participants. Moonrock will underwrite the product and manage distribution through its network of brokers.
This newly launched facility is designed to meet the evolving needs of operators in the advanced air mobility sector. It provides comprehensive coverage for everything from individual drones to extensive fleets, addressing the increasing demand for insurance solutions in eVTOL and other aviation technologies.
Martin Jackson, Class Leader, Aviation, Apollo Insurance, said: “It was clear there was a need for a meaningful and targeted solution in the market to offer larger limits for complex drones and eVTOL operators, as well as propositions for increasing areas of innovation.
“Given Apollo’s emphasis on providing and developing innovative and tailored solutions for our clients, we are very excited to expand our relationship further with Moonrock, alongside AEGIS London, AXIS, Beazley, Helvetia, IQUW and others to introduce this new facility. We are looking forward to our continued collaboration and partnership with the team at Moonrock.”
Simon Ritterband, Founder and Managing Director, added: “This partnership marks a groundbreaking leap forward for the drone insurance industry, unlocking new opportunities for projects that have historically struggled to find coverage. We are now able to insure more complex drone operations such as those utilising cutting-edge, high-value equipment, ensuring comprehensive protection against property damage and liability claims.
“We’re also excited because the facility provides the opportunity to support the rapidly expanding field of drone passenger services, or eVTOL. This revolutionary sector is poised for explosive growth, and with this innovative solution, we’re positioning ourselves ahead of the curve and ready to lead the way into the future of flight.”
