Verifly (Thimble) insurance to end drone coverage on March 24

Verifly, which was one of the first companies to offer on-demand insurance to drone pilots, has announced it will be shutting down on March 24, 2023.

New York-based Verifly was founded in 2016 as a provider of on-demand liability insurance for commercial and recreational drone flights. It used mapping technology and real-time conditions to advise drone operators of potential risks through a simple, easy-to-use app. Verifly’s policies, underwritten by Global Aerospace for up to $10 million, allowed users to fly in a radius of up to two miles for as long as eight hours.

Over the years, the company expanded its product range to serve other small businesses and independent workers with short-term insurance products. 2019 was a big year for Verifly, when it rebranded to Thimble supported by a $22 million Series A funding round.

Earlier this month, the drone insurance app was updated to include a pop-up announcing that Verifly will be shutting down and will no…