“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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