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3D Drone Prezi
Transcript of 3D Drone Prezi
Drones in the Insurance Industry
Drones in the Public Market
Drones in the Commercial Market
Companies that Offer Drone Insurance
Evaluate Loss Exposures
Appraise Risk Mgmt Techniques
Establish Risk Mgmt. Program
Adapt to Change
An unmanned aerial vehicle is a device
that is flown by an operator to a desired
UAVs can range in cost but are easy to
Drones can be purchased at
retailers such as Best Buy.
Quadcopters appear similar to
drones, however they are not the
Drones are becoming increasingly
popular in the public market,
making it a highly profitable and
Drones are currently being used by 3 major insurance companies
They are used as a risk management tool in Underwriting departments as well as Claims
Drones are currently capable of capturing high quality images which is good for surveying and auditing
Larry, Hugo, Roxanne, Lisa & Lindsey
Drones... Risky Business
The FAA is working to approve Drone
usage in the commercial market based on
firm specific requests
Applications to the FAA from Walmart and
Amazon are still pending
Firms intend to use drones for product
deliveries, transportation of goods to other
warehouses, inventory counts, and
Negligent or Reckless Operator
-Safe operational procedures is a critical factor
-Licensing and training is important to assess
Vulnerability to Cyber Attacks
-Rely on unencrypted data links for
command, control and navigation
-Can jam, intercept, and manipulate the
Inconsistent regulation and poor enforcement
-Regulators unable to provide strong oversight
-Tracking/monitoring could help operators avoid law infractions
Third party property and personal damage
- Collision Damages:
Colliding with an aircraft
Drones being drawn into aircraft engine
Can lead to:
Extensive losses to insurance companies
Minor to extreme damages and legal fees
Must be at least 17 years of age.
Aeronautical test every 24 months.
Obtain an unmanned aircraft operator certificate.
Unmanned aircraft must be under 55 pounds.
Visual line-of-sight operation only.
500 feet maximum ceiling.
May not operate over uninvolved persons
Canada Drone Legislation
Covers Drones under 55 pounds
Maximum ceiling of 295 feet
Operator certification required
Not logging your flights
Not registering your serial number
Not doing maintenance changes
Not practicing ethical flight
These are all scenarios that will result
in excluded coverage!
No Legal Requirements for Insurance
Canada already requires - $100,000 min liability
Unmanned Risk Management
Aerial Pak (Hill & Usher)
Avalon Risk Management
Aviation Insurance (Pat Costello)
Driessen Assuadeuren (Drone-Insurance.com)
Aviation Insurance Resources
Liability-Protection if drone
injures someone or property
Hull protects drone and
Coverage you need (liability vs. hull)
Value of Property
UAV Ownership Information
Location of Operation
333 Exemption Grants and Certifications
Transfer Risk Exposure
Government agencies (Surveillance)
Legislation and guidelines unique
to each state
Develop policies in resemblance
to commercial liability
New underwriting abilities
Busier market place by land,
sea and air!
The Future for Drones
- Next 5 years- Expected 18,000 new jobs.
- $14 billion economic impact.
- Money invested in UAV’s will nearly
double in next 10 years. $6.4 Billion to
Future Drone Use
- Emergency Services
- News agencies
- Government agency
The Future is Now
Risk Management Program
Establish Risk Program
Establish and implement the program
Communicate program to
management and employees
Adapt to Change
Monitor program’s effectiveness
and make changes
Look for new risks
Remain current with legislation and