Markets/Coverages: Marsh Risk, Apollo Develop Insurance Facility for Uber

Marsh Risk, a business of Marsh, and specialty insurer Apollo’s ibott division announced the launch of an insurance facility for Uber.

According to the companies, the facility is the first of its kind and will “accelerate the deployment of autonomous vehicles across Uber’s global platform.”

The bespoke Autonomous Vehicle Insurance Program (AVIP) is among Uber’s recently announced Uber Autonomous Solutions designed to support its autonomous vehicle (AV) partners, including developers, fleet operators, vehicle manufacturers/owners, and original equipment manufacturers. Autonomous vehicles “demand a fundamentally different approach to risk and insurance,” said Chriss Moore, president of ibott.

AVIP will be underwritten by Apollo’s ibott division, exclusively for Uber with dedicated capacity to provide AV partners with comprehensive primary and excess liability coverage. The AVIP solution wraps coverage for all key participants into a single master policy.

“Marsh is committed to enabling the growth of the autonomous vehicle sector through tailored risk and insurance solutions. Our work with ibott and Uber represents a meaningful step forward in delivering a scalable, cost-effective framework for AV risk management and accelerating the responsible deployment of autonomous technology,” said Melissa Daly, autonomous, mobility, & platform risk practice leader, Marsh Risk.