“Apollo, Moonrock Form New USD122.5 Million Drone, eVTOL, Innovation Insurance Facility”

Apol­lo, an inno­v­a­tive insur­ance plat­form and Moon­rock, an agency spe­cial­is­ing in drone cov­er, recent­ly announced the launch of a new drone, eVTOL and Avi­a­tion inno­va­tion insur­ance facil­i­ty, reports a press release.

The facil­i­ty is to pro­vide lia­bil­i­ty cov­er­age of up to USD 100 mil­lion and dam­age cov­er of up to USD22.5 mil­lion. 

The release explains, “Led by capac­i­ty from Apol­lo, fol­low-on capac­i­ty will be pro­vid­ed by AEGIS Lon­don, AXIS, Bea­z­ley, Hel­ve­tia, IQUW and oth­ers, while Moon­rock will under­write and dis­trib­ute the prod­uct to bro­kers.”

It con­tin­ues, “The pio­neer­ing insur­ance facil­i­ty is tai­lored to pro­tect com­plex oper­a­tions involv­ing any­thing from sin­gle drones to larg­er fleets and to meet the demand in eVTOL and oth­er areas of inno­va­tion in Avi­a­tion.”

Mar­tin Jack­son, Head of Avi­a­tion at Apol­lo, com­ment­ed, “It was clear there was a need to offer larg­er cov­er lim­its for com­plex drones and eVTOL oper­a­tors, as well as for areas of inno­va­tion.”

He con­tin­ued, “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.”

Simon Rit­ter­band

Simon Rit­ter­band, Moon­rock Founder and MD, added, “This part­ner­ship marks a ground­break­ing leap for­ward for the drone insur­ance indus­try. 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.” 

For for infor­ma­tion

https://apollounderwriting.com/marine-energy-transport/aviation

https://moonrockinsurance.com/

(Top image: Apollo/Moonrock)

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