Apollo partners with MGA Moonrock for drone insurance facility

Investing.com -- Apollo has teamed up with MGA Moonrock to introduce an insurance facility for drone, eVTOL (electric vertical takeoff and landing), and aviation innovation, the insurance company announced on Tuesday.

The insurance facility will offer liability coverage of up to $100 million and property damage coverage up to $22.5 million. Apollo leads this initiative, with additional capacity from several other insurance firms including Aegis London, Axis, Beazley, Helvetia, IQUW, and Munich Re.

The facility is designed to safeguard complex operations, ranging from single drones to larger fleets. It also aims to fulfill the increasing demand in the eVTOL sector and other areas of aviation innovation.

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