Willis Towers Watson will team with a commercial drone trade association to offer coverage for the sector designed for both owners and operators of the technology.
Dubbed DroneGuard, the insurance will be offered through Willis Programs, an insurance program administrator, and the Association for Unmanned Vehicle Systems International. Global Aerospace (AUVSI), an aerospace and commercial drone specialty insurer, is providing underwriting for the coverage.
Details about the coverage were to be discussed at AUVSI’s XPONENTIAL conference in New Orleans from May 2-5.
Coverage options include protection for physical damage, third-part liability and personal injury and risk management services designed to help enhance AUVSI members’ operations, consumer safety and industry reputation.
Willis Programs President and CEO Stacy Brown said that DroneGuard is the culmination of “focused research and development” designed to address the different industries using commercial drones.
“The businesses in this sector vary widely, creating distinct coverage and customer service needs, and we are thrilled to provide new approaches to insuring” commercial drones,” Brown said in prepared remarks.
The property/casualty insurance industry itself is among businesses testing commercial drone use. Hartford Steam Boiler, Erie Insurance, AIG, USAA and State Farm are among the carriers who have gained FAA exemptions to use drones for property inspections, underwriting and loss prevention work.
Source: Willis Towers Watson