The insurance regulator IRDAI, on Wednesday, has formed a working group,headed by Anjan Dey, general manager, New India Assurance, for insurance of Remotely Piloted Aircraft System(RAPS)/ Drone Technology
Among other issues,the committee will make recommendations relating to design and development of product/s meeting the needs of RPAS owners and operators, including Third Party Liability,make recommendations relating to underwriting of such risks including the re-insurance perspective and examine any other relevant matter relating to the subject.
Drones are emerging as one of the fastest growing technologies and are being used for a variety of purposes. Their numbers are growing rapidly. Drones are playing a significant role in the current COVID 19 situation, assisting various authorities in several activities, said IRDAI..
There is an immediate need to make available suitable insurance products covering the various risks involved in the use of Drones. Study and understand the insurance needs of RPAS owners and operators,IRDAI added.
The working group will submit its report within six weeks. .