ArgoGlobal, the Lloyd’s insurer and member of Bermuda-based Argo Group, has launched an online portal to offer click-and-buy insurance products for the UK’s commercial drone market.
The service, Insure4Drones, has been developed with approved Lloyd’s coverholder JRW Group. It offers physical damage and/or liability cover with limits of £1 million, £2 million or £5 million for single or multiple drones and operators. Operators must comply with all existing Civil Aviation Authority regulations in order to be eligible to purchase the cover.
Scott Bradbury, aviation underwriter, ArgoGlobal, said: “The aviation market is highly competitive and opportunities for growth in traditional markets are limited. However, the nascent commercial drone sector represents an area of potential growth.
“By developing new products which reflect the unique risks, rapidly evolving nature of this technology and increasingly broad spectrum of professions which are availing of drone for commercial use, carriers can carve a niche. This portal, which ArgoGlobal has developed in collaboration with JRW Group provides us with an advanced and user friendly platform, which can rapidly evolve in tandem with this industry.”
He added: “I am very pleased to announce the launch of insure4drones, which extends our suite of specialist aviation products to a previously unfurnished market and will help to support its burgeoning growth.”
ArgoGlobal, Argo, JRW, Lloyd's, Insure4Drones, Drones, Insurance, Scott Bradbury, London, UK, Bermuda