Insurtech company launches commercial drone insurance

Acend Inc., doing business as REIN, has launched DroneInsurance.com., its first digital portal designed to allow commercial drone operators to safeguard their business and self-manage coverage online, the company said in a statement Thursday.

Businesses can protect their ground operations and operators can purchase flight liability coverage on-demand, for one day to a year, with a range of limits, the statement said.

"From higher liability limits for episodic flight coverage to sensors and physical damage coverage options, our product aims to solve the unmet needs in the commercial drone insurance industry,” Christopher Dean, CEO of REIN, said in the statement.

Underwritten through Liberty Specialty Markets, DroneInsurance.com is now available in the United States, except in New York, New Jersey, Kentucky, Illinois, West Virginia and Minnesota, the statement said.

"Technology is rapidly changing the insurance landscape, so partnering with REIN to launch DroneInsurance.com makes perfect sense to meet this increasing demand," Mike Gosselin, chief underwriting officer for Liberty, said in the statement.

Liberty Mutual Strategic Ventures, a separate unit of Liberty Mutual Insurance Co., was among investors that helped REIN secure $7.3 million in venture funding, announced in a separate statement Thursday.