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TMK and BIBA launch drone insurance scheme
Written by staff reporter
The British Insurance Brokers’ Association and Tokio Marine Kiln have launched a new drone insurance offering coverage for companies operating commercial UAS.
Through the Lloyd's-backed scheme, BIBA members benefit from special terms and coverage for physical loss of or damage to UAS up to a limit of £100,000 per UAS (inclusive of payloads) whilst in the air, on the ground or in transit, including theft and malicious damage (larger limits available on request); and third party bodily injury and property damage liability – inclusive of losses arising from malicious acts up to a limit of £50M each occurrence, with larger limits available on an arranged basis.
Enhanced coverage for invasion of privacy, noise liability, operators indemnity, operators liability and loss of digital assets (cyber) are also available without referral.
Aviation underwriter at Tokio Marine Kiln, Robert James, said: “We are thrilled to be offering our product to BIBA brokers in recognition of the market leading position we have established in offering drone insurance to clients over the course of the last decade. Our offering sets itself apart from the competition through our outstanding claims service and extensive level of cover which we have carefully adapted over time to cater for the perils facing UAS operators, presented in a clear easy-to-follow format.”