Hiscox subsidiary provides access to UK drone cover

Moonrock Insurance, a specialist commercial drone insurer underwritten by Hiscox, is to provide wholesale access to its drone insurance.

Moonrock has been insuring pilots since the launch of its scheme through Hiscox in February 2016 and now insures some 2,000 commercial drone users.

The policy provides public liability cover in case of injury to an individual or damage to someone else’s property caused by the drone. It also includes damage to the drone itself or to drone accessories, as well as covers such as invasion of privacy, a cyber-hack and war, terrorism, hijacking and confiscation risks.

The policies are available to brokers immediately, directly from Moonrock.

According to Hiscox drone technologies are expected to reach a total market size of £80 billion by 20201 with the commercial business representing the fastest growth opportunity.

“The Moonrock Scheme has been a great success so opening up the product to other brokers was the natural next step,” said Samantha Newman, regional manager for Hiscox UK and Ireland. “Industries are being revolutionised by the use of drones and as a result, the market for drone technology is growing exponentially. Dangerous and unreliable manual processes are increasingly being replaced with drones and the demand for compulsory insurance for drone pilots is growing in parallel.  It’s hugely rewarding to be able to offer our product to a wider audience in this rapidly developing market.”