Brokers should know drone insurance is available through many means – including specialist aviation policies and on-demand apps, as well as the limited expansion of commercial general liability policies, according to an aerospace insurance company’s executive risk manager.
Global Aerospace, the “leading provider of aerospace insurance”, announced a new online portal for Unmanned Aircraft Systems, allowing clients to buy coverage with their credit card on Wednesday, and offered insight on the market.
Learn more about drones insurance here.
“One of the things we’ve heard a lot recently is people rely on their standard general liability policy to provide them with a coverage in some limited way,” Chris Proudlove, Global Aerospace’s senior vice president and manager of UAS Risks.
“We don’t fully understand how other language in those policies may affect drone writeback. We would certainly recommend a specific policy taken out with the aviation market.”
Insurance Business reported earlier this year on Orlando, Florida becoming the most recent jurisdiction to require drone operators of all kinds take out coverage.
“There appears to be no federal appetite for that in the US but that doesn’t mean that states and other local jurisdictions won’t adopt their own rules,” Proudlove said.
“It’s mandated in Europe for commercial operators.”
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Though it’s not the greatest of vulnerabilities, a potential risk drone operators run involves traditional aviation interference.
“We’re yet to see any proven cases of a drone colliding with an airliner or getting close enough to bring one down, but certainly that risk exists,” Proudlove said.
“There’s also a risk not just physically, but with radio signals getting mixed up with airline traffic or other infrastructure.”
Proudlove maintained that its enthusiasts accidentally flying drones into pedestrians that poses the largest exposure.
“The primary risk is to people who may be close to where the drone is operating. Property damage is also a hazard as well as business interruption,” Proudlove said.
“Lots of our clients insure their drones for repairs but mostly it’s legal liability.”
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