Mr.Anjan Dey, GM, The New India Assurance Company to chair 9 member IRDAI panel to look at drone insurance.

BENGALURU: With increasing use of drones amid the coronavirus crisis, Irdai noted that the unmanned aerial vehicles (UAVs) are assisting various authorities in several activities and formed a working group to study and make recommendations on how they can be insured.

The insurance regulator on Wednesday appointed a nine-member committee chaired by New India Assurance GM Anjan Dey to recommend covers. The terms of reference for the committee include understanding the insurance needs of remotely piloted aircraft system owners and operators. Based on this, the committee will make recommendations relating to design and development of products. They will also make recommendations relating to underwriting of such risks including the reinsurance perspective.

Just this month, HDFC Ergo General Insurance launched a cover for drones. Tata AIG was among the first to offer covers for drones few years ago. Incidentally, the insurance industry has been one of the early users of drones globally. It has been used for claim assessments after natural disasters and in identifying sowed area in agriculture insurance.

Source: The Times of India