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3D Drone Prezi

Universal template that is suitable for any presentation.
by

Roxanne Ullman

on 15 December 2015

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Transcript of 3D Drone Prezi

What is a Drone
Team D
Drones in the Insurance Industry

Drones in the Public Market

Drones in the Commercial Market

Losses
Legislation
International Legislation

...More Risks

Drones
& Coverage
Policy Questions

Coverage
Companies that Offer Drone Insurance
Happening Now


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
location
UAVs can range in cost but are easy to
obtain

Drones can be purchased at
retailers such as Best Buy.

Quadcopters appear similar to
drones, however they are not the
same.

Drones are becoming increasingly
popular in the public market,
making it a highly profitable and
rising industry.

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
message deliveries
Negligent or Reckless Operator
-Safe operational procedures is a critical factor
-Licensing and training is important to assess
risk
Vulnerability to Cyber Attacks
-Rely on unencrypted data links for
command, control and navigation
-Can jam, intercept, and manipulate the
drone controls

Risks
Privacy Infringement
-Surveillance capabilities
Inconsistent regulation and poor enforcement
-Regulators unable to provide strong oversight
-Tracking/monitoring could help operators avoid law infractions

Bodily Injury
Third party property and personal damage
- Collision Damages:
Motor vehicle
Colliding with an aircraft
Drones being drawn into aircraft engine
Homes
Power lines
Can lead to:
Extensive losses to insurance companies
Minor to extreme damages and legal fees

Federal Legislation
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.
Daylight-only operations.
500 feet maximum ceiling.
May not operate over uninvolved persons



Canada Drone Legislation

Covers Drones under 55 pounds
Maximum ceiling of 295 feet
Maintain Visual-line-of-sight
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!
Exclusions
QUESTIONS?
No Legal Requirements for Insurance
Homeowners insurance
Personal Property
Contents Coverage
Canada already requires - $100,000 min liability


Unmanned Risk Management
Aerial Pak (Hill & Usher)
AIG
Avalon Risk Management
Global Aerospace
Aviation Insurance (Pat Costello)
Driessen Assuadeuren (Drone-Insurance.com)
UAV Protec
Coverdrone
Aviation Insurance Resources
AVION Insurance

Liability-Protection if drone
injures someone or property
Hull protects drone and
equipment (breakage)
Associated Risk
Policies Differ
Personal Information
Coverage you need (liability vs. hull)
Value of Property
UAV Ownership Information
Location of Operation
Flight Experience
Training
Loss History
333 Exemption Grants and Certifications


More RM
Retain Risks
Transfer Risk Exposure
Insurance Transfer
(Commercial)
Insurance Transfer
(Government)
Loss
Prevention/Reduction
Avoidance
Military
Government agencies (Surveillance)

Conclusion
Evolving market
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
Growth
- 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
$11.5 Billion.
Future Drone Use
- Emergency Services
- News agencies
- Government agency
The Future is Now
Risk Management
Risk Management Program

Establish Risk Program
Establish and implement the program
Determine Authority
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
ensure compliance
Full transcript