Insurance platform Apollo and Moonrock, a managing general agent specialising in drone insurance, have launched a new drone, eVTOL and aviation innovation insurance facility.
The facility will provide liability coverage of up to USD 100 million and property damage cover of up to USD 22.5 million. Led by capacity from Apollo, follow-on capacity will be provided by AEGIS London, AXIS, Beazley, Helvetia, IQUW and Munich Re, while Moonrock will underwrite and distribute the product to brokers.
The 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.
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