Apollo and Moonrock have announced the launch of a new drone, eVTOL and aviation innovation insurance facility.
The facility will provide liability coverage of up to US$100m and property damage cover of up to US$22.5m. 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.
The 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, 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."
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