’There’s clearly going to be an ongoing requirement for texts like this as the industry evolves so quickly,” says managing director
December 2023 saw Moonrock Drone Insurance managing director and founder Simon Ritterband contribute his drone knowledge to an insurance law textbook.
The book, entitled The Global Insurance Market and Change, has been accepted into the Lloyd’s of London Insurance Library series.
The book provides an overview of the global insurance landscape, which is being “turned on its head” by “transformative technologies” such as drones and autonomous vehicles.
It focuses on the global landscape in which insurance is transacted and how the industry is evolving, with changes being made due to the rise of transformative technologies, such as artificial intelligence (AI).
The book is aimed at legal professionals, insurers, insurtechs, fintechs, brokers, chief executives, risk managers, legal counsel, academics, researchers, the judiciary and policy makers. It can also be used by students.
It is now available to buy on Amazon for £275 in hardcover form or via Kindle.
60 Seconds with Simon Ritterband
The book, which has a series of authors from Clyde and Co.
After hearing about Ritterband, the law firm were “keen to discuss the legal and insurance requirements for commercial drones” for the book ”as part of their quest to lead on the issue”.
That was according Ritterband, he told Insurance Times: “That’s how I ended up part of The Global Insurance Market and Change textbook. My chapter is called Unmanned Aerial Vehicles: Liability and Insurance.
“There’s clearly going to be an ongoing requirement for texts like this as the industry evolves so quickly.”
He explained that together they outlined the risks that are currently being covered and market exposures.
Ritterband continued: “We’ve got better market knowledge than any other provider in terms of the breadth of drone risks we cover, which allows us really clear insight on what the market looks like and enables us to hypothesise how things might develop.
“We take a look at how the industry might move forward in the future with automation, which is obviously a key growth area, and consider how visual line of sight flights might evolve.
”Additionally, we discuss drone delivery and the risks around that service as it develops.”
A case study on Moonrock as a business and how it was built has also been included.
Overall, the book took six months to pull together and was published by Routledge.
Aimed at a global audience and not just the UK alone, the text covers a wide range of areas and is for anyone interested in legalities about insurance.
Ritterband added: “We have attempted to address the market now and in the future, even though we know it’s always moving and shifting.
“We’ve futureproofed it as much as we can by looking ahead and addressing how future technologies such as blockchain might change the risk and legal landscape.”
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