September 8, 2016
New regulations from the Federal Aviation Administration (FAA) went into effect on August 29, 2016. These changes are expected to increase the commercial use of unmanned aerial vehicles, also known as Drones. Drones have endless commercial applications, due to their relatively small size and ability to fly without an on-board pilot.
FAA Regulations Part 107 removes requirements that a drone operator be a licensed pilot and that a company obtain the FAA 333 exemption, opening the legal use of drones for a specific task.
According to Insurance Business America, The FAA expects 600,000 commercial drones in the air within a year. By some counts, that will mean more licensed drone pilots in the country than pilots operating manned aircrafts.
This leads to an increased demand in drone insurance across the country. It is important to understand that most standard commercial insurance policies do not provide coverage for drones, yet some carriers will provide coverage with special endorsements.
Robertson Ryan stands ready to assist with your drone insurance questions and needs.