UNMANNED AIRCRAFT SYSTEM | DRONE INSURANCE
Cover yourself and your business in the emerging industry of drones and unmanned aircraft.
Unmanned aircraft vehicles (UAV) or more commonly, drones, are a quickly-emerging technology that has enormous potential to spark a revolution across multiple industries, or at the very least increase efficiency and cost-effectiveness. Drones are becoming cheaper, smaller, more powerful, and easier to operate. The commercial drone industry is currently growing at an unprecedented rate, with new solutions, models, and companies marketing new technology every day. Drones have the potential to both solve problems and save costs in future across a number of industries, throughout the developing world and in disaster relief scenarios.
With the increases in use the potential risks of this technology also grow. Advances in drone technology are inevitably accompanied by a host of new risks. As the industry continues to grow and mature, drone companies strive to find more efficient ways to manage and transfer risk.
The Unique Risks Drone Companies Face
Liability Risks: The industry continues to see heavier regulation and the potential for expensive liability claims is increasing. Claims can be made against manufacturers (product liability), businesses and operators for property damage, bodily injuries, and financial damages that occur in day-to-day drone operations.
Cyber Security: Cybercriminals could take control of a drone in flight causing it to collide with other aircraft or ground objects and cause material damage and loss of life. Wi-Fi or radio signals controlling the drone can be hacked and are referred to as “spoofing” attacks. Sensitive data recorded by drones can be illegally intercepted in flight while the drone is transmitting information back to the control station. Once that data is stored it can also be compromised by cyber-attacks.
Privacy Issues: Privacy violations that drone usage may lead to is a concern for the public. According to the Pew Research Center 54% of the public thinks drones should not be allowed to fly in residential areas. Commercial drones are usually restricted to protected areas and used with a lot more care than a hobbyist drone, but privacy lawsuits remain a serious concern.
Regulatory Challenges: UAV regulation is still in its infancy and the legal landscape around drones is shifting fast.
We work with companies to find the est policies to cover your liability in this fast-changing market segment.