Update on Business Use of Drones and Insurance

Colorado Drone InsuranceThe Insurance Journal has two recent articles that provides some updated information on drones (UAVs) with an insurance angle.

From http://www.insurancejournal.com/news/national/2014/12/15/368058.htm:

“Providing a range of options can help an insurer better align its product offerings both with its underwriting tolerance and the needs of its clients,” Ron Beiderman, vice president of Commercial Lines Coverage Products at ISO Insurance Programs and Analytic Services, said in a statement. “Because this is a newly emerging exposure, we introduced various exclusion and coverage options to give insurers maximum flexibility when writing risks that use drones in their operations.”

Up next is an article that projects huge growth for drones in the next 5 years and the demand for proper insurance will follow suit.

From http://www.insurancejournal.com/news/national/2015/05/13/368051.htm:

Insurers themselves are among the businesses testing the use of drones even as they assess the risks involved for their customers from an underwriting standpoint. Insurers are particularly interested in using UAVs for disaster responsesituations.

But movie studios, real estate firms, railroads, retailers and other businesses have also been clamoring for the government to let them use drones for inspections, deliveries, inspections, filming and other endeavors.

Please visit our Orcutt Insurance Drone/UAV page for more information.

Thank you for your consideration.

The Orcutt Group Team