All Risks, Ltd.
Contact Us
contact_phone Click to call
All Risks, Ltd.
Contact Us
contact_phone Click to call

News

All Risks, Ltd. Launches Unmanned Aerial Vehicle Program in the U.S. with Prospect Insurance Brokers

Wednesday, November 18, 2015

HUNT VALLEY, MD (November 17, 2015) – All Risks, Ltd., the nation’s largest independent wholesaler, is pleased to partner with Prospect Insurance Brokers Limited, a Lloyd's of London broker providing specialist UAV insurance for manufacturers and operators, to offer its UAV Protect product in the U.S. to retail insurance agents nationwide.  The national UAV Program offers an insurance package for commercial users of Unmanned Aerial Vehicles, or drones, as they are commonly known.  UAVs are aircrafts characterized by the absence of a human pilot on board.  Their flight and actions are controlled by a computer on board under the remote control of a navigator or pilot on the ground or in another vehicle.  This tailored package policy is covered through A.M. Best A (Excellent) insurers.

The pioneering product is the first Lloyd’s binding authority for UAVs in the United States.  It is a market-leading product, offering commercial entities with the necessary Federal Aviation Authority (FAA) approval access to the following coverages: hull and liability, personal accident cover for their crew, general liability, theft, cyber liability and privacy and trespass insurance. 

“Since earlier this year, the number of Section 333 exemptions that the FAA has permitted, allowing various commercial entities to use UAVs safely to advance their businesses has ballooned, due to an increasing pressure from the industry,” commented Richard Bryant, Senior Underwriter of Ark Specialty Programs.  Ark Specialty Programs is part of Ark Syndicate Management Ltd., which manages the underwriting of Syndicate 4020 and Incidental Syndicate 3902 at Lloyd's of London.

“Our specialist UAV cover will meet this demand.  Furthermore, with the expected arrival of the Small UAS (Unmanned Aircraft Systems) Rule in 2016 (for drones weighing less than 55 pounds), we are well-timed to serve this exciting and rapidly evolving new industry,” stated James Gadbury, COO of UAV Protect.

“We are proud to launch this truly unique insurance package in the U.S. with a leading-edge broker,” mentioned Chris Kelleher, Vice President - National Specialty Programs of All Risks.  “As the UAV industry continues to evolve, we are well positioned with a London partner who understands this niche and is committed to offering the most comprehensive UAV coverage in the industry.”  More information about this program can be found at http://www.allrisks.com/industry-specialties/detail/unmanned-aerial-systems or http://www.uav-protect.com/usa-insurance.

All Risks, Ltd., based in Hunt Valley, Maryland, is the largest national independent wholesale brokerage firm offering comprehensive insurance solutions with a full service platform of brokerage, contract binding, exclusive national programs and specialty personal lines products for retail insurance agents and brokers nationwide.  The 51-year-old firm employs over 750 staff members in offices located in Maryland, Arizona, California, Colorado, DC, Florida, Georgia, Illinois, Indiana, Louisiana, Minnesota, New Jersey, New York, North Carolina, Pennsylvania, Texas, Virginia and Washington.  To learn more, please visit http://www.allrisks.com.

Please visit our CompleteMarkets storefront: Unmanned Aerial Systems Insurance