Australia’s drone market has tended to become more a drone hire business.
So says Agile Underwriting emerging risks head James Crowther who, according to Insurance Business Australia, says rapid changes in the technology have opened up the new market.
The drone insurance specialist says more drone companies are hiring out drones and operators are also renting drones themselves to ensure they have the latest offerings so that the best technology is available.
Agile has launched a niche insurance product called Drone Cover 2 Go in response to the demand, designed for brokers to distribute to commercial drone operators who require short-term rather than annual cover for small- to medium-sized commercial gigs and hires.
It’s not a general liability policy – more a third-party liability policy covering ground and flight-based operations, Crowther is reported as saying, even when the drone is in transit.
Agile’s drone policy doesn’t cover custom built drones, recreational users taking photos on a holiday weekend, or military applications, but can range from drone wedding photographers to firms operating larger drone fleets.
