London, UK-based Skyrisks is partnering with Convex Group to address the fast-growing insurance needs of the advanced air mobility (AAM) sector.

Newly incorporated, Skyrisks is preparing to launch as managing general agent, pioneering comprehensive insurance products for AAM businesses in partnership with Convex. AAM businesses will have diverse insurance needs including hull all risks, third party liability, passenger and crew liability, premises, products and hangarkeepers liability, and other coverages.

Specialist aviation underwriter with Allianz Global Corporate & Specialty Alistair Blundy will be appointed chief executive officer upon his completion at AGCS. He says: “The vast majority of AAM aircraft are zero-emission and exceptionally versatile, providing a cleaner, faster, quieter and more affordable alternative to conventional platforms. Skyrisks is committed to driving global sustainability action in aviation, which today accounts for two per cent of global emissions.”

Convex head of aerospace Michael Hansen adds: “Tackling the enormous challenges of sustainability and safety in aviation is among the greatest responsibilities of the insurance market. It will take a data-driven specialist such as Skyrisks to underwrite the risk from the ground up with coverages tailored for the needs of the AAM ecosystem.”

Skyrisks will seek to achieve a market leadership position once it is fully operational by providing innovative risk management to the AAM sector through development of bespoke policy forms and coverages, granular pricing models and proactive targeted underwriting appetite.