The British Insurance Brokers’ Association (BIBA) has partnered with specialist and corporate insurer Tokio Marine Kiln (TMK) to launch a new drone insurance scheme.
The Lloyd’s-backed scheme offers coverage for companies operating drones for either commercial or business purposes and is available via a digital platform that enables brokers to quote and bind business in real time.
Coverage includes physical loss or damage of up to £100,000 per drone whilst in the air, on the ground or in transit, including theft and malicious damage.
Additional coverage includes third party bodily injury and property damage liability – inclusive of losses arising from malicious acts up to a limit of £50 million each occurrence – while 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,” commented Robert James, Aviation Underwriter at Tokio Marine Kiln.
“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.”
Mike Hallam, Head of Technical Services at BIBA, added, “Drones offer exciting opportunities for the insurance industry and the number of professional, commercial operators has grown exponentially in the last few years.”
“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.”
