Tokio Marine launches drones coverage at Lloyd'sPosted On: May. 5, 2015 12:00 AM CST
Tokio Marine Kiln Group Ltd. will now offer coverage for unmanned aerial systems, or drones, in the Lloyd’s of London market, the insurer said Tuesday.
The insurance product, One Unmanned, is available to drone operators, manufacturers and service providers, and offers multiple coverages under a single wording, London-based Tokio said in the statement.
Customers first choose one or both of the core products, including unmanned aerial systems hull and liability and products liability, Tokio said. Customers may then choose to extend coverage to risks including aviation hull war or war liability, personal accident, cyber, intellectual property and employer liability, according to the statement.
According to a Tokio spokeswoman, the price and maximum limits vary based on the selected coverage and individual circumstances, and discounts are available for combined packages.
“From filming Hollywood blockbusters to surveying oil platforms and even loss adjusting, we have seen a dramatic increase in the commercial use of (drones), and the risk profiles of our clients are changing as a consequence,” Jay Wigmore, Tokio Marine Kiln aviation underwriter who developed the drone coverage, said in the statement. “One Unmanned aims to help them address all of their needs comprehensively as this important market matures.”